0001820721-22-000033 | 10-K | XBRL Viewer

Print Document View Excel Document

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2021	Mar. 31, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-39613
Entity Registrant Name	ARRAY TECHNOLOGIES, INC.
Entity Central Index Key	0001820721
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-2747826
Entity Address, Address Line One	3901 Midway Place NE
Entity Address, City or Town	Albuquerque
Entity Address, State or Province	NM
Entity Address, Postal Zip Code	87109
City Area Code	(505)
Local Phone Number	881-7567
Title of 12(b) Security	Common stock, $0.001 par value
Trading Symbol	ARRY
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,981,113,685
Entity Common Stock Shares Outstanding		150,173,507
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement to be filed with the Securities and Exchange Commission, or SEC, subsequent to the date hereof pursuant to Regulation 14A in connection with the registrant’s 2022 Annual Meeting of Stockholders, are incorporated by reference into Part III of this Annual Report on Form 10-K. We intend to file such proxy statement with the SEC not later than 120 days after the conclusion of the registrant’s fiscal year ended December 31, 2021.

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2021
Auditor Information [Abstract]
Auditor name	BDO USA, LLP
Auditor location	Austin, Texas
Auditor firm ID	243

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 367,670	$ 108,441
Accounts receivable, net	236,009	118,694
Inventories, net	205,653	118,459
Income tax receivables	9,052	17,158
Prepaid expenses and other	33,649	12,423
Total current assets	852,033	375,175
Property, plant and equipment, net	10,692	9,774
Goodwill	69,727	69,727
Other intangible assets, net	174,753	198,260
Deferred tax assets	9,345	0
Other assets	26,429	3,088
Total assets	1,142,979	656,024
Current Liabilities
Accounts payable	91,392	82,755
Accounts payable - related party	610	2,232
Accrued expenses and other	38,494	29,164
Accrued warranty reserve	3,192	3,049
Income tax payable	60	8,814
Deferred revenue	99,575	149,821
Current portion of contingent consideration	1,773	8,955
Current portion of term loan	4,300	4,313
Other current liabilities	5,909	0
Total current liabilities	245,305	289,103
Long-term liabilities
Deferred tax liability	0	13,114
Contingent consideration, net of current portion	12,804	10,736
Other long-term liabilities	5,557	0
Long-term debt, net of current portion, debt discount and issuance costs	711,056	423,970
Total long-term liabilities	729,417	447,820
Total liabilities	974,722	736,923
Commitments and contingencies (Note 16)
Series A Redeemable Perpetual Preferred Stock of $0.001 par value - 500,000 authorized; 350,000 and none issued as of December 31, 2021 and 2020, respectively; liquidation preference of $350.0 million and none as of December 31, 2021 and 2020, respectively	237,462	0
Stockholders’ deficit
Preferred stock of $0.001 par value - 4,500,000 authorized; none issued as of December 31, 2021 and 2020, respectively	0	0
Common stock of $0.001 par value - 1,000,000,000 authorized; 135,026,940 and 126,994,467 issued as of December 31, 2021 and 2020, respectively	135	127
Additional paid-in capital	202,562	140,473
Accumulated deficit	(271,902)	(221,499)
Total stockholders’ deficit	(69,205)	(80,899)
Total liabilities, redeemable perpetual preferred stock and stockholders’ (deficit)	$ 1,142,979	$ 656,024

Consolidated Balance Sheets - (Parenthetical) - USD ($)	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Oct. 14, 2020
Statement of Financial Position [Abstract]
Temporary equity, par value (in dollars per share)	$ 0.001	$ 0.001			$ 0.001
Authorized temporary equity stock (in shares)	500,000	500,000			500,000
Temporary equity, shares issued	350,000	350,000			0
Temporary equity, liquidation preference	$ 350,000,000	$ 352,800,000			$ 0
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Authorized preferred stock (in shares )	4,500,000	4,500,000	5,000,000	5,000,000	4,500,000	5,000,000
Preferred stock, shares issued	0	0	0	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Authorized common stock (in shares)	1,000,000,000	1,000,000,000	1,000,000,000	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, shares issued	135,026,940	134,869,467	126,994,467	126,994,467	126,994,467

Consolidated Statements of Operations - USD ($) $ in Thousands		3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Oct. 14, 2020	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue		$ 188,686	$ 196,516	$ 248,240	$ 444,756	$ 633,442	$ 853,318	$ 872,662	$ 647,899
Cost of revenue		182,789	176,009	202,074	378,083	560,872	770,459	669,861	497,138
Gross profit		5,897	20,507	46,166	66,673	72,570	82,859	202,801	150,761
Operating expenses
General and administrative		18,493	15,113	24,673	39,786	58,279	80,974	55,634	41,212
Contingent consideration		936	(13)	148	135	1,071	2,696	26,441	640
Depreciation and amortization		5,984	5,981	5,984	11,965	17,949	23,930	25,514	25,500
Total operating expenses		25,413	21,081	30,805	51,886	77,299	107,600	107,589	67,352
Income (loss) from operations		(19,516)	(574)	15,361	14,787	(4,729)	(24,741)	95,212	83,409
Other expense
Other expense, net		(297)	(122)	(78)	(200)	(497)	(905)	(2,305)	(33)
Interest expense		(13,109)	(6,651)	(9,009)	(15,660)	(28,769)	(35,475)	(15,129)	(18,797)
Total other expense		(13,406)	(6,773)	(9,087)	(15,860)	(29,266)	(36,380)	(17,434)	(18,830)
Income before income tax expense (benefit)		(32,922)	(7,347)	6,274	(1,073)	(33,995)	(61,121)	77,778	64,579
Income tax expense (benefit)		(5,361)	(1,830)	1,698	(132)	(5,493)	(10,718)	18,705	24,834
Net income (loss)		(27,561)	$ (5,517)	$ 4,576	$ (941)	(28,502)	(50,403)	59,073	39,745
Preferred dividends and accretion		(5,479)				(5,479)	(15,715)	0	0
Net income (loss) to common shareholders		$ (33,040)				$ (33,981)	$ (66,118)	$ 59,073	$ 39,745
Earnings (loss) per share
Basic (in dollars per share)		$ (0.25)	$ (0.04)	$ 0.04	$ (0.01)	$ (0.26)	$ (0.51)	$ 0.49	$ 0.33
Diluted (in dollars per share)		$ (0.25)	$ (0.04)	$ 0.04	$ (0.01)	$ (0.26)	$ (0.51)	$ 0.49	$ 0.33
Weighted average number of shares
Basic (in shares)	119,994,467	130,955,000	126,994,000	126,994,000	126,994,000	128,315,000	129,984,000	121,467,000	119,994,000
Diluted (in shares)	119,994,467	130,955,000	126,994,000	127,298,000	127,203,000	128,315,000	129,984,000	121,514,000	119,994,000

Consolidated Statements of Changes in Member’s Equity/Stockholders’ Deficit - USD ($) shares in Thousands, $ in Thousands	Total	Member units	Common Stock	Additional paid-in capital	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2018		1
Beginning balance at Dec. 31, 2018	$ 264,474	$ 264,474
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contribution	133	133
Equity-based compensation	799	799
Net (loss)	39,745	$ 39,745
Ending balance (in shares) at Dec. 31, 2019		1
Ending balance at Dec. 31, 2019		$ 305,151
Ending balance (in shares) at Dec. 31, 2019			0
Increase (Decrease) in Permanent Equity [Abstract]
Equity-based compensation	799	799
Net (loss)	39,745	39,745
Ending balance (in shares) at Dec. 31, 2019			0
Ending balance at Dec. 31, 2019	305,151		$ 0	$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total stockholders’ deficit	305,151		$ 0	0	0
Special distribution	(589,000)	(589,000)
Equity-based compensation	4,809	3,397		1,412
Initial public offering of common stock, net of underwriting discounts and commissions (in shares)			7,000
Initial public offering of common stock, net of underwriting discounts and commissions	145,532		$ 7	145,525
Deferred offering costs	(6,464)			(6,464)
Net (loss)	59,073	$ 71,394			(12,321)
Corporate conversion and stock split (in shares)		(1)	119,994
Corporate conversion and stock split	$ 0	$ 209,058	$ 120		(209,178)
Ending balance (in shares) at Dec. 31, 2020		0
Ending balance at Dec. 31, 2020		$ 0
Ending balance (in shares) at Dec. 31, 2020			126,994
Ending temporary equity shares balance (in shares) at Dec. 31, 2020	0
Temporary equity, ending balance at Dec. 31, 2020	$ 0
Beginning balance (in shares) at Dec. 31, 2019			0
Increase (Decrease) in Permanent Equity [Abstract]
Equity-based compensation	4,809	3,397		1,412
Issuance of common stock, net (in shares)			7,000
Issuance of common stock, net	145,532		$ 7	145,525
Net (loss)	59,073	$ 71,394			(12,321)
Ending balance (in shares) at Dec. 31, 2020			126,994
Ending balance at Dec. 31, 2020	(80,899)		$ 127	140,473	(221,499)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total stockholders’ deficit	(80,899)		$ 127	140,473	(221,499)
Equity-based compensation	7,897			7,897
Net (loss)	4,576				4,576
Ending balance (in shares) at Mar. 31, 2021			126,994
Beginning balance (in shares) at Dec. 31, 2020			126,994
Increase (Decrease) in Permanent Equity [Abstract]
Equity-based compensation	7,897			7,897
Net (loss)	4,576				4,576
Ending balance (in shares) at Mar. 31, 2021			126,994
Ending balance at Mar. 31, 2021	(68,426)		$ 127	148,370	(216,923)
Beginning balance (in shares) at Dec. 31, 2020		0
Beginning balance at Dec. 31, 2020		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	9,420			9,420
Net (loss)	$ (941)				(941)
Ending balance (in shares) at Jun. 30, 2021			126,994
Beginning temporary equity shares balance (in shares) at Dec. 31, 2020	0
Temporary equity, beginning balance at Dec. 31, 2020	$ 0
Ending temporary equity shares balance (in shares) at Jun. 30, 2021	0
Temporary equity, ending balance at Jun. 30, 2021	$ 0
Beginning balance (in shares) at Dec. 31, 2020			126,994
Beginning balance at Dec. 31, 2020	(80,899)		$ 127	140,473	(221,499)
Increase (Decrease) in Permanent Equity [Abstract]
Equity-based compensation	9,420			9,420
Net (loss)	(941)				(941)
Ending balance (in shares) at Jun. 30, 2021			126,994
Ending balance at Jun. 30, 2021	(72,420)		$ 127	149,893	(222,440)
Beginning balance (in shares) at Dec. 31, 2020		0
Beginning balance at Dec. 31, 2020		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	11,580			11,580
Initial public offering of common stock, net of underwriting discounts and commissions (in shares)			7,875
Initial public offering of common stock, net of underwriting discounts and commissions	104,764		$ 8	104,756
Net (loss)	$ (28,502)				(28,502)
Ending balance (in shares) at Sep. 30, 2021			134,869
Beginning temporary equity shares balance (in shares) at Dec. 31, 2020	0
Temporary equity, beginning balance at Dec. 31, 2020	$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary equity issued (in shares)	350
Issuance of Series A Preferred, net of fees	$ 229,799
Preferred cumulative dividends	$ 5,479
Ending temporary equity shares balance (in shares) at Sep. 30, 2021	350
Temporary equity, ending balance at Sep. 30, 2021	$ 235,278
Beginning balance (in shares) at Dec. 31, 2020			126,994
Beginning balance at Dec. 31, 2020	(80,899)		$ 127	140,473	(221,499)
Increase (Decrease) in Permanent Equity [Abstract]
Equity-based compensation	11,580			11,580
Issuance of common stock, net (in shares)			7,875
Issuance of common stock, net	104,764		$ 8	104,756
Preferred accretion	(5,479)			(5,479)
Net (loss)	(28,502)				(28,502)
Ending balance (in shares) at Sep. 30, 2021			134,869
Ending balance at Sep. 30, 2021	1,464		$ 0	251,330	(250,001)
Beginning balance (in shares) at Dec. 31, 2020		0
Beginning balance at Dec. 31, 2020		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	13,562			13,562
Initial public offering of common stock, net of underwriting discounts and commissions (in shares)			7,875
Initial public offering of common stock, net of underwriting discounts and commissions	104,764		$ 8	104,756
Net (loss)	$ (50,403)				(50,403)
Ending balance (in shares) at Dec. 31, 2021			135,026
Beginning temporary equity shares balance (in shares) at Dec. 31, 2020	0
Temporary equity, beginning balance at Dec. 31, 2020	$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary equity issued (in shares)	350
Issuance of Series A Preferred, net of fees	$ 229,799
Preferred cumulative dividends	8,226
Payment of dividends	(8,052)
Preferred accretion	$ 7,489
Ending temporary equity shares balance (in shares) at Dec. 31, 2021	350
Temporary equity, ending balance at Dec. 31, 2021	$ 237,462
Beginning balance (in shares) at Dec. 31, 2020			126,994
Beginning balance at Dec. 31, 2020	(80,899)		$ 127	140,473	(221,499)
Increase (Decrease) in Permanent Equity [Abstract]
Equity-based compensation (in shares)			157
Equity-based compensation	13,562			13,562
Issuance of common stock, net (in shares)			7,875
Issuance of common stock, net	104,764		$ 8	104,756
Premium on capped call, net of deferred tax	(40,514)			(40,514)
Preferred cumulative dividends	(8,226)			(8,226)
Preferred accretion	(7,489)			(7,489)
Net (loss)	(50,403)				(50,403)
Ending balance (in shares) at Dec. 31, 2021			135,026
Ending balance at Dec. 31, 2021	(69,205)		$ 135	202,562	(271,902)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total stockholders’ deficit	(68,426)		$ 127	148,370	(216,923)
Equity-based compensation	1,523			1,523
Net (loss)	$ (5,517)				(5,517)
Ending balance (in shares) at Jun. 30, 2021			126,994
Ending temporary equity shares balance (in shares) at Jun. 30, 2021	0
Temporary equity, ending balance at Jun. 30, 2021	$ 0
Beginning balance (in shares) at Mar. 31, 2021			126,994
Beginning balance at Mar. 31, 2021	(68,426)		$ 127	148,370	(216,923)
Increase (Decrease) in Permanent Equity [Abstract]
Equity-based compensation	1,523			1,523
Net (loss)	(5,517)				(5,517)
Ending balance (in shares) at Jun. 30, 2021			126,994
Ending balance at Jun. 30, 2021	(72,420)		$ 127	149,893	(222,440)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total stockholders’ deficit	(72,420)		$ 127	149,893	(222,440)
Equity-based compensation	2,160			2,160
Initial public offering of common stock, net of underwriting discounts and commissions (in shares)			7,875
Initial public offering of common stock, net of underwriting discounts and commissions	104,764		$ 8	104,756
Net (loss)	$ (27,561)				(27,561)
Ending balance (in shares) at Sep. 30, 2021			134,869
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary equity issued (in shares)	350
Issuance of Series A Preferred, net of fees	$ 229,799
Preferred cumulative dividends	$ 5,479
Ending temporary equity shares balance (in shares) at Sep. 30, 2021	350
Temporary equity, ending balance at Sep. 30, 2021	$ 235,278
Beginning balance (in shares) at Jun. 30, 2021			126,994
Increase (Decrease) in Permanent Equity [Abstract]
Equity-based compensation	2,160			2,160
Issuance of common stock, net (in shares)			7,875
Issuance of common stock, net	104,764		$ 8	104,756
Preferred accretion	(5,479)			(5,479)
Net (loss)	(27,561)				(27,561)
Ending balance (in shares) at Sep. 30, 2021			134,869
Ending balance at Sep. 30, 2021	1,464		$ 0	251,330	(250,001)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total stockholders’ deficit	1,464		0	251,330	(250,001)
Total stockholders’ deficit	$ (69,205)		$ 135	$ 202,562	$ (271,902)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Cash Flows [Abstract]
Net income (loss)	$ (50,403)	$ 59,073	$ 39,745
Adjustments to reconcile net income (loss) to net cash used in (provided by) operating activities:
Provision for (recovery of) bad debts	(467)	595	(3,986)
Deferred tax (benefit) expense	(10,102)	(2,739)	22,322
Depreciation and amortization	25,946	27,474	27,316
Amortization of debt discount and issuance costs	15,036	3,366	3,968
Interest paid-in-kind	0	3,421	2,832
Equity-based compensation	13,757	4,809	799
Contingent consideration	2,696	26,441	640
Warranty provision	516	953	1,387
Provision for inventory obsolescence	990	1,225	1,742
Changes in operating assets and liabilities
Accounts receivable	(116,848)	(23,038)	(40,708)
Inventories	(88,184)	28,340	(94,594)
Income tax receivables	8,106	(16,530)	9,941
Prepaid expenses and other	(21,226)	1,101	2,228
Accounts payable	8,637	(50,519)	105,481
Accounts payable - related party	(1,622)	0	0
Accrued expenses and other	9,133	10,913	(1,978)
Income tax payable	(8,754)	6,870	1,944
Lease liabilities	221	0	0
Contingent consideration	0	(25,000)	0
Deferred revenue	(50,619)	(178,960)	306,994
Net cash provided by (used in) operating activities	(263,187)	(122,205)	386,073
Cash flows used in investing activities
Purchase of property, plant and equipment	(3,357)	(1,338)	(1,697)
Investment in equity security	(11,975)	0	0
Net cash used in investing activities	(15,332)	(1,338)	(1,697)
Cash flows from financing activities
Proceeds from issuance of convertible notes	413,321	0	0
Premium paid on capped call	(52,870)	0	0
Fees paid on issuance of convertible notes	(1,591)	0	0
Dividends paid on Series A Preferred	(8,051)	0	0
Proceeds from Series A issuance	224,987	0	0
Proceeds from common stock issuance	120,645	0	0
Series A equity issuance costs	(7,195)	0	0
Common stock issuance costs	(3,873)	0	0
Proceeds from revolving credit facility	126,033	0	0
Payments on revolving credit facility	(126,033)	0	0
Principal payments on term loan	0	(57,702)	(25,000)
Proceeds from term loan facility	0	575,000	0
Principal payments on term loan facility	(133,225)	(115,000)	0
Proceeds from (Payments on) revolving loan	0	(70)	(39,078)
Payments on related party loans	0	(45,558)	0
Payment of special distribution	0	(589,000)	0
Proceeds from issuance of common stock, net of underwriting discount and commissions	0	145,532	0
Contingent consideration	(7,810)	0	0
Deferred offering costs	0	(6,464)	0
Debt issuance costs	(6,590)	(36,011)	0
Capital contribution	0	0	133
Net cash provided by (used in) financing activities	537,748	(129,273)	(63,945)
Net change in cash and cash equivalents	259,229	(252,816)	320,431
Cash and cash equivalents, beginning of period	108,441	361,257	40,826
Cash and cash equivalents, end of period	367,670	108,441	361,257
Supplemental Cash Flow Information
Cash paid for interest	24,306	6,935	11,343
Cash paid for income taxes	$ 13,318	$ 31,103	$ 443

Organization and Business	12 Months Ended
Organization and Business	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Organization and Business Array Technologies, Inc. (the “Company”) formerly ATI Intermediate Holdings, LLC, is a Delaware corporation formed in December 2018 as a wholly owned subsidiary of ATI Investment Parent, LLC (“Former Parent”). On October 14, 2020, the Company converted from a Delaware limited liability company to a Delaware corporation and changed the Company’s name to Array Technologies, Inc. The Company is headquartered in Albuquerque, New Mexico, and manufactures and supplies solar tracking systems and related products for customers across the United States and internationally. The Company, through its wholly-owned subsidiary, ATI Investment Sub, Inc. (“ATI Investment”) owns one subsidiary through which it conducts substantially all operations; Array Tech, Inc. (collectively “AT”).

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Accounting and Presentation

The accompanying consolidated financial statements were prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Reclassifications

Certain prior year amounts have been reclassified to conform to the current year presentation.

Recently Adopted Accounting Pronouncements

On January 1, 2021, the Company adopted Accounting Standards Update (“ASU”) No. 2016-02 (Topic 842) “Leases” which supersedes the lease recognition requirements in ASC Topic 840, “Leases”. Under ASU No. 2016-02, lessees are required to recognize assets and liabilities on the consolidated balance sheets for most leases and provide enhanced disclosures. For companies that are not emerging growth companies (“EGCs”), the ASU was effective for fiscal years beginning after December 15, 2018. For EGCs, the ASU is effective for fiscal years beginning after December 15, 2021. The Company early adopted the new standard using the modified retrospective method by recording a right-of-use asset of $13.2 million, short-term portion of lease liabilities of $6.3 million and long-term portion of lease liabilities of $7.2 million as of the effective date. Prior periods will not be restated and will continue to be reported under Topic 840 guidance in effect during those periods. The Company applied the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. The adoption did not have a material impact on its consolidated statements of operations or its consolidated statements of cash flows. See Note 15, Leases, for further information and disclosures related to the adoption of this standard.

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU No. 2019-12”), which is intended to simplify various aspects of the accounting for income taxes. ASU No. 2019-12 removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. This standard is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company has adopted the pronouncement and it did not have a material impact on its consolidated financial statements and related disclosures.

In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40). The amendments in this update simplifies accounting for certain convertible debt instruments by removing the separation models for convertible debt with a cash conversion feature or convertible instruments with a beneficial conversion feature. As a result, convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. Additionally, ASU 2020-06 requires the application of the if-converted method for calculating diluted earnings per share and the treasury stock method will be no longer be available for convertible debt instruments. The provisions of ASU 2020-06 are applicable for fiscal years beginning after December 15, 2021, with early adoption permitted no earlier than fiscal years beginning after December 15, 2020. The Company early adopted the new standard effective January 1, 2021 using the modified retrospective method. There was no impact on the Company's financial statements as of the adoption date. As further discussed in Note 10, "Convertible Debt," the Company issued $425 million principal amount of convertible senior notes on December 3, 2021, which have been accounted for in accordance with the provisions of ASU 2020-06.

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses, which was subsequently amended by ASU No. 2018-19 and ASU No. 2019-10, requires the measurement of expected credit losses for financial instruments carried at amortized cost held at the reporting date based on historical experience, current conditions and reasonable forecasts. The updated guidance also amends the current other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists. The main objective of this ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The standard was adopted on January 1, 2021 as the Company lost it’s status as an Emerging Growth Company effective December 31, 2021 and therefore was required to adopt the standard for the year ending December 31, 2021. The adoption of this standard did not have an impact on consolidated financial statements.

Corporate Conversion and Stock Split

On October 14, 2020, prior to the issuance of any of our shares of common stock in our initial public offering (the “IPO”), we converted from a Delaware limited liability company to a Delaware corporation. In connection with the corporate conversion we converted all 1,000 of our outstanding member units into 100,000,000 shares of common stock and then completed a stock split of 1.19994-for-1. The corporate conversion and stock split representing 119,994,467 shares of common stock have been adjusted retroactively for the purposes of calculating basic and diluted earnings per share.

Principles of Consolidation

The consolidated financial statements include the accounts of Array Technologies, Inc. and its Subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of

contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates include impairment of goodwill, impairment of long-lived assets, fair value of contingent consideration, Series A Redeemable Preferred Stock and the related future tranche, allowance for credit losses, reserve for excess or obsolete inventories, valuation of deferred tax assets and warranty reserve. Due to the COVID-19 pandemic, there has been and will continue to be uncertainty and disruption in the global economy and financial markets. Management has made estimates and assumptions taking into consideration certain possible impacts due to COVID-19. These estimates may change, as new events occur, and additional information is obtained. Actual results may differ from previously estimated amounts, and such differences may be material to the consolidated financial statements; however, management believes that these estimates and assumptions provide a reasonable basis for the fair presentation of the consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the period they occur.

Impact of COVID-19 Pandemic

In December 2019, a novel strain of coronavirus, SARS-CoV-2, which causes coronavirus disease 2019, or COVID-19, surfaced in Wuhan, China. Since then, COVID-19 has spread to multiple countries, including the United States. On March 11, 2020, the World Health Organization declared COVID-19 a pandemic. Due to economic conditions our industry has seen rapid commodity price increases and strained logistics, causing us to experience temporary decreased margins and thus decreased cash from operations which has adversely impacted our business. In addition, due to global tightening of supply chain and strained logistics issues we have experienced an increase in our unbilled revenues and also in some instances incurred liquidated damages. We have taken, and continue to take, mitigating steps to overcome the economic challenges and, therefore, believe the impact to be temporary, but cannot be certain the timing of when we will achieve better margins.

The Company believes it has sufficient liquidity and financing options available and expects to have sufficient liquidity to operate for the next 12 months. The Company expects to use cash generated from operations and if needed, can access funds from the Revolving Credit Facility. The Company also has $100 million in delayed draw ability under the Series A Redeemable Perpetual Preferred Stock future draw commitment, however this would increase the Company’s dividend obligations and outstanding common stock. The Revolving Credit Facility has $186.4 million of availability; however the Company may have limited ability to draw on the funds due to debt covenants. The Company has implemented adjustments to its operations designed to keep employees safe and comply with federal, state and local guidelines, including those regarding social distancing. The extent to which COVID-19 may further impact the Company’s business, results of operations, financial condition and cash flows will depend on future developments, which are highly uncertain and cannot be predicted with confidence. In response to COVID-19, the United States government has passed legislation and taken other actions to provide financial relief to companies and other organizations affected by the pandemic.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Accounts Receivable

The Company’s accounts receivable are due primarily from solar contractors across the United States and internationally. Credit is extended in the normal course of business based on evaluation of a customer’s

financial condition and, generally, collateral is not required. Trade receivables consist of uncollateralized customer obligations due under normal trade terms requiring payment within 30-60 days of the invoice date. Management regularly reviews outstanding accounts receivable and provides for estimated credit losses through an estimate of expected credit losses valuation account. The allowance for credit losses is a valuation account that is deducted from a financial asset’s amortized cost to present the net amount we expect to collect from the asset. We estimate allowances for credit losses using relevant available information from both internal and external sources. We monitor the estimated credit losses associated with our trade accounts receivable and unbilled accounts receivable based primarily on our collection history and the delinquency status of amounts owed to us, which we determine based on the aging of such receivables. In evaluating the level of established reserves, management makes judgments regarding the customers’ ability to make required payments, economic events, and other factors. As the financial conditions of these customers change, circumstances develop, or additional information becomes available, adjustments to the valuation account may be required. When deemed uncollectible, the receivable is charged against the valuation account for credit losses or directly written off. At December 31, 2021 and 2020, the valuation account was $0.1 million and $0.7 million, respectively.

Unbilled receivables, which represent temporary timing differences between shipments made and billing milestones achieved, were $111.2 million and $18.1 million of the accounts receivable balances as of December 31, 2021 and 2020, respectively. These amounts have not been billed because we are waiting for agreed upon billing stipulations such as billing on a specified date of the month or upon completion of mega-watt deliveries. The unbilled balance has increased as of December 31, 2021 due to global challenges with supply chain logistics and labor shortages in some instances causing delays in delivering specific components to complete a mega-watt delivery. These will be invoiced once the commercial criteria have been met at which point we will invoice and expect payment within 30 to 60 days.

Amounts retained by project owners under contracts and included in accounts receivable at December 31, 2021 and 2020 were $13.5 million and $4.1 million, respectively. Such retention amounts represent funds withheld by our customers until the products are installed by a third-party, arranged by the customer, and the project is declared operational. Retention amounts and length of retention periods may vary. All retention amounts outstanding as of December 31, 2021 are collectible within the next 12 months.

The following is the activity of the reserve for credit losses on accounts receivable which includes trade accounts receivable and unbilled accounts receivable (in thousands):


	December 31,
	2021
Beginning balance	$	663
Provision for credit losses	(303)
Collected	(130)
Written-off	(90)
Ending balance	$	140

The following is the activity of the allowance for doubtful accounts (in thousands):


	December 31,
	2020
Beginning balance	$	162
Provision for bad debts	847
Collected	(242)
Written-off	(104)
Ending balance	$	663

Inventories

Inventories consist of raw materials and finished goods. Inventories are stated at the lower of cost or estimated net realizable value using the weighted average method. Provisions are made to reduce excess or obsolete inventories to their estimated net realizable values. See Note 3 for a detail of the components that comprise the inventory balance presented on the accompanying consolidated balance sheets.

Property, Plant and Equipment

Property, plant and equipment acquired in the acquisition of Array are recorded at fair value at the date of acquisition net of accumulated depreciation and amortization; all other property, plant and equipment are recorded at cost, net of accumulated depreciation and amortization. Improvements, betterments and replacements which significantly extend the life of an asset are capitalized. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the respective assets. Repair and maintenance costs are expensed as incurred.

A gain or loss on the sale of property, plant and equipment is calculated as the difference between the cost of the asset disposed of, net of depreciation, and the sales proceeds received. A gain or loss on an asset disposal is recognized in the period that the sale occurs.

Impairment of Long-Lived Assets

When events, circumstances or operating results indicate that the carrying values of long-lived assets might not be recoverable through future operations, the Company prepares projections of the undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the projections indicate that the recorded amounts are not expected to be recoverable, such amounts are reduced to estimated fair value. Fair value is estimated based upon internal evaluation of each asset that includes quantitative analyses of net revenue and cash flows, review of recent sales of similar assets and market responses based upon discussions in connection with offers received from potential buyers. Management determined there was no impairment for the years ended December 31, 2021, 2020 and 2019.

Goodwill

Goodwill reflects the excess of the consideration transferred, including the fair value of any contingent consideration over the assigned fair values of the identifiable net assets acquired. Goodwill is not amortized, and is assigned to the reporting unit and tested for impairment at least on an annual basis. Goodwill is assessed using either a qualitative assessment or quantitative approach to determine whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount. The qualitative assessment evaluates factors including macroeconomic conditions, industry-specific and company-specific considerations,

legal and regulatory environments, and historical performance. If the Company determines that is more likely than not that the fair value of a reporting unit is less than its carrying value, a quantitative assessment is performed. Otherwise, no further assessment is required. The quantitative approach compares the estimated fair value of the reporting unit to its carrying amount, including goodwill. Impairment is indicated if the estimated fair value or the reporting unit is less than the carrying amount of the reporting unit, and an impairment charge is recognized for the differential.

The Company completes its annual goodwill impairment test as of year-end. At December 31, 2021, the Company performed both a qualitative and quantitative test for impairment of goodwill and no impairment was recorded. At December 31, 2020, the Company performed a qualitative assessment of its goodwill and no impairment was recorded. At December 31, 2019, the Company performed a quantitative assessment of its goodwill and no impairment was recorded.

Amortizable and Other Intangible Assets

The Company amortizes identifiable intangible assets consisting of developed technology, customer relationships, contractual backlog and internal-use software modifications because these assets have finite lives. The Company’s intangible assets with finite lives are amortized on a straight-line basis over the estimated useful lives. The basis of amortization approximates the pattern in which the assets are utilized, over their estimated useful lives.

The Array Technologies trade name has been determined to have an indefinite life and, therefore, is not amortized but is subject to an annual impairment test or at any other time when impairment indicators exist. The Company completed its annual impairment test for its non-amortizable asset (Trade Name) by comparing the estimated fair value to the carrying value of such asset. Based on the results of the tests, the Company did not recognize any impairment charges for the years ended December 31, 2021, 2020 and 2019.

Deferred Offering Costs

Deferred offering costs consist primarily of registration fees, filing fees, listing fees, specific legal and accounting costs, and transfer agent fees, which are direct and incremental fees related to the offerings. Deferred offering costs were offset against the proceeds.

Debt Discount and Financing Costs

Debt discount and financing costs incurred to issue debt are deferred and amortized using the effective interest method as a component of interest expense over the life of the related debt agreement. Amortization expense and write-off of debt discount and deferred financing costs was $15.0 million, (including $9.6 million in write-offs in connection with unscheduled principal payoffs that occurred in February and August of 2021 – see Notes 9 and 10), $3.4 million and $4.0 million, respectively, for the years ended December 31, 2021, 2020 and 2019.

Revenue Recognition

Under ASC 606, Revenue from Contracts with Customers (“ASC 606”), the Company recognizes revenues from the sale of solar tracking systems and parts and determines its revenue recognition through the following steps (i) identification of the contract or contracts with a customer, (ii) identification of the performance obligations within the contract, (iii) determination of the transaction price, (iv) allocation of the transaction price

to the performance obligations within the contract, and (v) recognition of revenue when, or as the performance obligation has been satisfied.

Performance Obligations

The majority of the Company’s contracts with customers are accounted for as one performance obligation, because the Company is integrating the solar tracking system components and related services as part of a single project. Certain contracts associated with customers using the federal investment tax credit (“ITC”) for solar energy projects and other standalone tracker component sales are accounted for as multiple performance obligations because the delivery of the components and other services specified in the contract do not represent a single integrated project.

For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation using its best estimate of the standalone selling price of each distinct good or service in the contract. The Company uses the expected cost-plus margin approach to estimate the standalone selling price of each performance obligation.

In contracts with one performance obligation, the Company’s performance obligation is satisfied over-time as control is transferred to the customer by measuring the progress toward complete satisfaction of the performance obligation using an input (i.e., “cost to cost”) method. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation.

Revenue recognized for the Company’s ITC related contracts and standalone system component sales are recorded at a point in time and recognized when obligations under the terms of the contract with our customer are satisfied. Generally, this occurs with the transfer of control of the asset, which is typically upon delivery to the customer in line with shipping terms. In certain situations, when product is still in our custody, and title and risk of loss has passed to the customer (known as bill-and-hold arrangement), revenue will be recognized when all the specific requirements for transfer of control under a bill-and-hold arrangement have been met. The Company had $168.9 million in contracts with customers for the sale of goods and services that contained bill-and-hold obligations such as storage, handling and other custodial duties. Any losses incurred on point-in-time projects are recognized as the goods are delivered.

In assessing the recognition of revenue, the Company also evaluates whether two or more contracts should be combined and accounted for as one contract and if the combined or single contract should be accounted for as multiple performance obligations which could change the amount of revenue and profit (loss) recorded in a period.

Contracts are often modified through change orders to account for changes in specifications or design, manner of performance, equipment, materials, scope of work, and/or the period of completion of the project. Although the Company evaluates each change order to determine whether such modification creates a separate performance obligation, the majority of change orders are for goods or services that are not distinct within the context of the original contract and, therefore, not treated as separate performance obligations but rather as a modification of the existing contract and performance obligation.

We account for shipping and handling activities related to contracts with customers as costs to fulfill our promise to transfer the associated products. Accordingly, we record amounts billed for shipping and handling costs as a component of revenue, and classify such costs as a component of cost of revenue.

Contract Estimates

Accounting for contracts utilizing the cost-to-cost measure of progress is based on various assumptions to project the outcome of future events that can exceed a year. These assumptions include the cost and availability of materials. The Company reviews and updates its contract-related estimates on an ongoing basis and recognizes adjustments for any project specific facts and circumstances that could impact the measurement of the extent of progress, such as the total costs to complete the contracts, under the cumulative catch-up method. Under this method, the impact of the adjustment on profit recorded to date is recognized in the period the adjustment is identified. Revenue and profit in future periods of contract performance is recognized using the adjusted estimate. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, the Company recognizes the total loss in the period it is identified. At contract inception, any variable consideration such as liquidated damages are estimated based on probability of occurrence and then re-evaluated for probability at the end of the quarterly period.

Contract Balances

The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled accounts receivable for goods delivered but not invoiced, and deferred revenue (contract liabilities) on the consolidated balance sheets. The majority of the Company’s contract amounts are billed as work progresses in accordance with agreed-upon contractual terms, which generally coincide with the shipment of one or more phases of the project. Billing sometimes occurs subsequent to revenue recognition, resulting in unbilled accounts receivable. The changes in unbilled accounts receivable and the corresponding amounts recorded in revenue relate to fluctuations in the timing and volume of billings for the Company’s revenue recognized over-time. As of December 31, 2021 and December 31, 2020, unbilled accounts receivable totaled $111.2 million and $18.1 million, respectively, are included within accounts receivable on the consolidated balance sheets on a contract-by-contract basis at the end of the reporting period. The Company also receives advances or deposits from its customers, before revenue is recognized, resulting in contract liabilities. The changes in contract liabilities (i.e. deferred revenue) relate to advanced orders and payments received by the Company and are the result of customers looking to take advantage of certain U.S. federal tax incentives set to decrease at the end of 2019 and 2020. Based on the terms of the tax incentives the customer must pay for the goods prior to December 31, 2019 and 2020, which accounts for the increase in the advanced orders and payments and the resulting deferred revenue at December 31, 2019 and 2020 and subsequent reduction for deliveries which occurred during the year ended December 31, 2020 and 2021. As of December 31, 2021 and December 31, 2020, contract liabilities consisting of deferred revenue were $99.6 million and $149.8 million, respectively and were recorded on a contract-by-contract basis at the end of each reporting period. During the years ended December 31, 2021 and 2020, the Company converted $149.8 million and $328.8 million deferred revenue to revenue, respectively, which represented 100% of the prior years deferred revenue balance.

Remaining Performance Obligations

As of December 31, 2021, the Company had $301.5 million of remaining performance obligations. The Company expects to recognize revenue on 100% of these performance obligations in the next twelve months.

Warranty Obligations

The Company offers an assurance type warranty for its products against manufacturer defects and does not contain service elements. For these assurance type warranties, a provision for estimated future costs related to warranty expense is recorded when they are probable and reasonably estimable, which is typically when

products are delivered. This provision is based on historical information on the nature, frequency and average cost of claims for each product line. When little or no experience exists for an immature product line, the estimate is based on comparable product lines. These estimates are re-evaluated on an ongoing basis using best-available information and revisions to estimates are made as necessary.

Income Taxes

The Company provides for income taxes based on the provisions of FASB ASC Topic 740, Income Taxes, which, among other things, requires that recognition of deferred income taxes be measured by the provisions of enacted tax rates in effect at the date of the consolidated financial statements. A valuation allowance is provided to reduce deferred income tax assets if it is more likely than not that all, or some portion, of such deferred tax assets will not be recognized. Provision for estimated income taxes is based upon elements of income and expense reported in the consolidated statements of operations. The Company also files certain corporate state income tax returns. Generally, the Company is subject to examination by U.S. federal (or state or local) income tax authorities for three years from the filing of a tax return. The current provision for income taxes represents actual or estimated amounts payable on tax return filings each year. Deferred tax assets and liabilities are recorded for the estimated future tax effects of temporary differences between the tax basis of assets and liabilities and amounts reported in the accompanying consolidated balance sheets, and for operating loss and tax credit carryforwards. The change in deferred tax assets and liabilities for the period measures the deferred tax provision or benefit for the period. Effects of changes in enacted tax laws on deferred tax assets and liabilities are reflected as adjustments to the tax provision or benefit in the period of enactment. Adjustments for penalties and interest, if any, are also reflected in the current year tax provision or benefit.

The Company determines whether uncertain tax positions are more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position.

The Company recognizes interest and penalties related to unrecognized tax benefits within the interest expense line and other expense line, respectively, in the consolidated statements of operations. Accrued interest and penalties are included within the related liability lines in the consolidated balance sheets.

Equity-Based Compensation

The Company recognizes equity-based compensation expense based on the equity award’s grant date fair value. The determination of the fair value of equity awards issued to employees of the Company is based upon the underlying share price and a number of assumptions, including volatility, performance period, risk-free interest rate and expected dividends. The Company accounts for forfeitures as they occur. The grant date fair value of each unit is amortized on a straight-line basis over the requisite service period.

Temporary Equity

Equity instruments that are redeemable for cash or other assets are classified as temporary equity if the instrument is redeemable, at the option of the holder, at a fixed or determinable price on a fixed or determinable date or upon the occurrence of an event that is not solely within the control of the issuer. Redeemable equity instruments are initially carried at the fair value of the equity instrument at the issuance date, which is subsequently adjusted at each balance sheet date if the instrument is currently redeemable, or probable of becoming redeemable. The Series A Redeemable Perpetual Preferred Stock issued in connection with the Securities Purchase Agreement as described in Note 11 is classified as temporary equity in the

accompanying consolidated financial statements. The Company elected the accreted redemption value method under which it accretes changes in redemption value over the period from the date of issuance of the Series A Redeemable Perpetual Preferred Stock to the earliest costless redemption date (the fifth anniversary) using the effective interest method. Such adjustments are included in preferred undeclared dividends and accretion on Series A Redeemable Perpetual Preferred Stock on the Company’s consolidated statements of changes in equity and treated similarly to a dividend on preferred stock for GAAP purposes.

Earnings per Share (“EPS”)

Basic earnings per share, or EPS, is computed by dividing net income available to shareholders by the weighted average shares outstanding during the period. Diluted EPS takes into account the potential dilution that could occur if securities or other contracts to issue shares, such as stock options, unvested restricted stock, or convertible debt, were exercised and converted into shares. The convertible debt is not currently convertible. Diluted EPS is computed by dividing net income available to shareholders by the weighted average shares outstanding during the period, increased by the number of additional shares that would have been outstanding if the potential shares had been issued and were dilutive.

Credit Concentration

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, and accounts receivable. The Company has no significant off balance sheet concentrations of credit risk. The Company maintains its cash with financial institutions that are believed to be of high credit quality and has not experienced any material losses relating to any cash. As of December 31, 2021 and December 31, 2020, $367.2 million and $108.2 million, respectively, of the Company’s bank balances were uninsured and uncollateralized and exposed to custodial credit risk.

The Company’s customer base consists primarily of solar contractors and utilities. The Company does not require collateral on its trade receivables. For the year ended December 31, 2021, the Company’s largest customer and five largest customers constituted 12.6% and 46.0% of total revenues, respectively. Two customers made up 22.7% of revenue and are the only customers greater than 10% of total revenue for the year ended December 31, 2021. For the year ended December 31, 2020, the Company’s largest customer and five largest customers constituted 11.2% and 40.9% of total revenues, respectively. Two customers made up 21.5% of revenue and are the only customers constituting greater than 10% of total revenue for the year ended December 31, 2020. For the year ended December 31, 2019, the Company’s largest customer and five largest customers constituted 17.2% and 50.1% of total revenues, respectively. Two customers make up 28.7% of revenue and are the only customers constituting greater than 10% of total revenue. The loss of any one of the Company’s top five customers could have a materially adverse effect on the revenues and profits of the Company. Further, the Company’s trade accounts receivable are from companies within the solar industry and, as such, the Company is exposed to normal industry credit risks. As of December 31, 2021, the Company’s largest customer and five largest customers constituted 17.6% and 44.6% of trade accounts receivable, respectively. As of December 31, 2020, the Company’s largest customer and five largest customers constituted 0.1% and 20.9% of trade accounts receivable, respectively. The Company continually evaluates its reserves for potential credit losses and establishes reserves for such losses.

Fair Value

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company follows a fair value

hierarchy which requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

Three levels of inputs may be used to measure fair value, as follows:

•Level 1 - Quoted prices in active markets for identical assets or liabilities.

•Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

•Level 3 - Unobservable inputs that are supported by little or no market activity that are significant to the fair value of the assets or liabilities.

Assets valued using Level 1 inputs are determined by quoted market prices derived from an active market and Level 2 inputs are based primarily on quoted prices for similar assets in active or inactive markets. Level 3 inputs are valued by management’s assumptions about the assumptions the market participants would utilize in pricing the asset.

The fair values of the Company’s cash, accounts receivable, and accounts payable approximate their carrying values due to their short maturities. The carrying value of the Company’s notes payable, capped call, and related party loans approximates their fair values, as they are based on current market rates at which the Company could borrow funds with similar terms.

The Company follows the provisions of FASB ASC Topic 820-10 for nonfinancial assets and liabilities measured at fair value on a non-recurring basis. As it relates to the Company, this applies to certain nonfinancial assets and liabilities acquired in business combinations and measurement of goodwill impairment and non-amortizable intangibles and is thereby measured at fair value. The Company has determined such fair value primarily by third-party valuations.

New Accounting Standards

To be adopted

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities in accordance with Accounting Standards Codification Topic 606. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. While the Company is continuing to assess the timing of adoption and the potential impacts of ASU 2021-08, and continue to evaluate the impact that ASU 2021-08 will have, if any, on its consolidated financial statements.

Inventories

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following (in thousands):


	December 31,
	2021		2020
Raw materials	$	85,470	$	39,051
Finished goods	127,598		85,833
Reserve for excess or obsolete inventory	(7,415)		(6,425)
Total	$	205,653	$	118,459

The following is the activity of the inventory reserve (in thousands):


	December 31,
	2021		2020
Beginning balance	$	(6,425)	$	(5,200)
Increases	(1,766)		(2,518)
Decreases	776		1,293
Ending balance	$	(7,415)	$	(6,425)

Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment consisted of the following (in thousands):


	Estimated Useful Life (Years)	December 31,
		2021		2020
Land	N/A	$	1,340	$	1,340
Buildings and land improvements	15-39	2,451		2,486
Manufacturing equipment	7	13,924		13,261
Furniture, fixtures and equipment	5-7	476		443
Vehicles	5	161		140
Hardware and software	3-5	1,683		887
Assets in progress	NA	1,880		—
Total		21,915		18,557
Less: accumulated depreciation		(11,223)		(8,783)
Property, plant and equipment, net		$	10,692	$	9,774

Depreciation expense was $2.4 million, $2.2 million and $2.1 million for the years ended December 31, 2021, 2020 and 2019, respectively, of which $2.0 million, $2.0 million and $1.8 million, respectively, was allocated to cost of revenues and $0.4 million, $0.2 million and $0.3 million, respectively, is included in depreciation and amortization in the accompanying consolidated statements of operations for the years ended December 31, 2021, 2020 and 2019.

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill

Goodwill relates to Former Parent’s acquisition of Array. At the acquisition date, July 8, 2016, goodwill was $121.6 million. At December 31, 2020 and December 31, 2021 goodwill totaled $69.7 million, net of accumulated impairment of $51.9 million and is not deductible for tax purposes.

Other Intangible Assets

Other intangible assets consisted of the following (in thousands):


	Estimated Useful Life (Years)	December 31,
		2021		2020
Amortizable:
Costs:
Developed technology	14	$	203,800	$	203,800
Customer relationship	10	89,500		89,500
Internal-use software modification	2.5	4,356		4,356
Total Amortizable Intangibles		297,656		297,656
Accumulated amortization:
Developed technology		79,790		65,233
Customer relationship		49,057		40,107
Internal-use software modification costs		4,356		4,356
Total Accumulated Amortization		133,203		109,696
Total Amortizable Intangibles, Net		164,453		187,960

Non-amortizable costs:
Trade name		10,300		10,300
Total Other Intangible Assets, Net		$	174,753	$	198,260

Amortization expense related to intangible assets was $23.5 million, $25.3 million and $25.2 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Estimated future annual amortization expense for the above amortizable intangible assets for the remaining periods through December 31, as follows (in thousands):


	Amount
2022	$	23,507
2023	23,507
2024	23,507
2025	23,507
2026	23,507
Thereafter	46,918
	$	164,453

Investment in Equity Securities	12 Months Ended
Investment in Equity Securities	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investment in Equity Securities	Investment in Equity SecuritiesThe Company made a $10.0 million and $2.0 million investment in preferred stock of a private company in February 2021 and April 2021, respectively. The investment is accounted for in accordance with ASC 321 at its cost less any impairment. The investment balance as of December 31, 2021 is $12.0 million and is recorded in other assets on the condensed consolidated balance sheet. There is no impairment recorded for the year ended December 31, 2021.

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

The provision for income taxes charged to operations consists of the following (in thousands):


	Year Ended December 31,
	2021		2020		2019
Current Expense:
Federal	$	(8)	$	17,248	$	1,709
State	(668)		4,196		803
Foreign	60		—		—
	(616)		21,444		2,512
Deferred Expense (Benefit):
Federal	(9,085)		(2,799)		20,576
State	(1,017)		60		1,746
	(10,102)		(2,739)		22,322
Total Income Tax Expense (Benefit)	$	(10,718)	$	18,705	$	24,834

Significant components of the Company’s deferred tax assets and liabilities were as follows (in thousands):


	December 31,
	2021		2020
Deferred Tax Assets:
Bad debts	$	32	$	156
Inventories	2,411		2,050
Accrued warranties	1,242		841
Accrued compensation	315		271
Accrued settlement	—		524

Net operating loss	1,944		506
Equity-based compensation	948		154
Lease liabilities	2,661		—
Premium on capped call	12,356		—
Interest expense carryforward	5,301		—
Other	275		239
Deferred Tax Assets	27,485		4,741
Valuation allowance	(222)		(208)
Deferred Tax Assets, net	27,263		4,533
Deferred Tax Liabilities:
Property, plant, and equipment	(1,083)		(1,043)
Intangible assets	(14,165)		(16,604)
ROU assets	(2,670)		—
Deferred Tax Liabilities	(17,918)		(17,647)
Deferred Tax Asset (Liability), net	$	9,345	$	(13,114)

A reconciliation of income tax expense computed at the federal statutory rate of 21% to actual income tax expense at the Company’s effective rate is as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Income tax rate reconciliation
Income tax expense (benefit) at U.S. statutory rate	$	(12,835)	$	16,333	$	13,562
State income taxes	(1,545)		3,375		2,049
Permanent differences:
Derecognition of tax assets from IRS examination	—		—		9,284
Equity-based compensation	1,542		852		168
Contingent consideration	567		5,553		134
Credits	(620)		(79)		(284)
Other nondeductible expenses	69		437		40
Effect of CARES Act	—		(6,608)		—
Foreign income benefit	—		(1,201)		(155)
Officer’s compensation	435		—		—
Transaction costs	950		—		—
Change in valuation allowance	14		—		(45)
Other	705		43		81
Total Income Tax Expense (Benefit)	$	(10,718)	$	18,705	$	24,834

The Company files income tax returns in the U.S. federal jurisdiction and in multiple states. The Company is no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2015.

As of December 31, 2021, the Company had federal income tax net operating loss (“NOL”) carryforwards of approximately $5.1 million. The Company has state income tax NOL carryforwards of approximately $9.7 million that will expire in future years beginning in 2029.

Realization of deferred tax assets associated with federal and state net operating loss and federal tax credit carryforwards is dependent upon generating sufficient taxable income of the appropriate type, and in the appropriate jurisdictions, to utilize them prior to their expiration, if any. It is not more likely than not that deferred tax assets from certain state net operating loss and federal tax credit carryforwards would be realized due to type and location of future earnings and as such the Company increased the valuation allowance $14 thousand for the years ended December 31, 2021 and none for the year ended December 31, 2020.

ASC 740, Income Taxes, addresses the determination of how tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. In accordance with ASC 740, the Company must recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The Company’s assessments of its tax positions in accordance with ASC 740 did not result in changes that had a material impact on results of operations, financial condition or liquidity. The Company had no unrecognized income tax benefits at either December 31, 2021 or 2020.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted in response to the COVID-19 pandemic. Among other things, the CARES Act provided the ability for taxpayers to carryback a net operating loss (“NOL”) arising in a taxable year beginning after December 31, 2017 and before January 1, 2021 to each of the five years preceding the year of the loss. The Company generated a significant NOL during its tax year ended March 31, 2019 and filed a carryback claim in June 2020 for this NOL. As a result of the carryback claim, the Company recorded an income tax benefit of $10.7 million on its consolidated statement of operations for the year ended December 31, 2020, resulting from the difference in the current U.S. federal tax rate of 21% and the tax rate of 35% applicable in the carryback year.

The Company’s 2017 federal income tax return was selected for examination by the IRS in 2018. As a result of the examination, an adjustment related to the value allocated to the developed technology for tax purposes was potentially required. During 2019, the Company settled the 2017 examination and agreed to a reduction in the developed technology value from $210 million to $188 million for federal income tax purposes. As a result of this change in the value of the acquired developed technology, the Company reduced its NOL carryforwards by approximately $2.8 million for previously taken amortization and increased the deferred tax liability related to the revised developed technology tax basis by approximately $4.6 million. In addition, the Company will no longer receive tax basis upon payment of the Tax Receivable Agreement (“TRA”) liability, as such the related deferred tax asset of $4.7 million for the TRA was also written off during 2019. The adjustments resulting from the change in developed technology value have been recorded as an income tax expense for the year ended December 31, 2020. Refer to Note 16 - Commitments and Contingencies, for detail on the TRA, which was contingent consideration at the time of the Array acquisition.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Accrued Warranty Reserve

12 Months Ended

Dec. 31, 2021

Guarantees and Product Warranties [Abstract]

Accrued Warranty Reserve

The following table summarizes the activity related to the estimated accrued warranty reserve (in thousands):


	December 31,
	2021		2020
Beginning balance	$	3,049	$	2,592
Provision for warranties issued	1,064		1,054
Payments	(373)		(496)
Warranty expirations	(548)		(101)
Ending balance	$	3,192	$	3,049

Senior Secured Credit Facility

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Senior Secured Credit Facility

Senior Secured Credit Facility Long term debt consisted of the following (in thousands):


	December 31,
	2021		2020
Term loan facility	$	326,775	$	460,000
Revolving credit facility	—		—
	326,775		460,000
Less discount and issuance costs	(23,291)		(31,717)
Long term debt, net of debt discount and financing costs	303,484		428,283
Less current portion of long-term debt	(4,300)		(4,313)
Long-term Senior Secured Credit Facility debt, net of current portion, debt discount and financing costs	$	299,184	$	423,970

Senior Secured Credit Facility

On October 14, 2020, the Company entered into a senior secured credit facility which was amended on February 23, 2021 by the first amendment and on February 26, 2021 by the second amendment. The senior secured facility consisted originally of (i) a $575 million senior secured seven-year term loan facility (the “Term Loan Facility”) and (ii) a $150 million senior secured 5-year revolving credit facility (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “Senior Secured Credit Facility”). On February 23, 2021, the Company entered into the first amendment (“First Amendment”) to our Senior Secured Credit Facility. The First Amendment, in the case of Eurocurrency borrowings, lowers the London interbank offered rate floor to 50 basis points from 100 basis points and lowers the applicable margin to 325 basis points from 400 basis points per annum. This results in our current rate on the Term Loan Facility decreasing to 3.75% down from 5% prior to the First Amendment. On February 26, 2021, the Company entered into the incremental facility amendment No. 2 (the “Second Amendment”) to the Senior Secured Credit Facility. The Second Amendment increases the $150.0 million Revolving Credit Facility from $150.0 million to $200.0 million.

Revolving Credit Facility

Under the Revolving Credit Facility, the Company had a zero outstanding balance as of December 31, 2021 and 2020, $13.6 million and $46.6 million in standby letters of credit as of December 31, 2021 and 2020, and availability of $186.4 and $103.4 million at December 31, 2021 and 2020.

Term Loan Facility

The Term Loan Facility had a balance of $326.8 million and $460.0 million as of December 31, 2021 and 2020, respectively. The Company made unscheduled payoffs of the Term Loan Facility during the year in the aggregate of $130.0 million which resulted in the write-off of capitalized fees in the aggregate of $9.6 million. The Term Loan Facility accrued interest equal to applicable margin of 1% plus base rate (2.75% and 4.00% at December 31, 2021 and 2020, respectively). The balance of the Term Loan Facility is presented in the accompanying consolidated balance sheets net of debt discount and issuance costs of $23.3 million and $31.7 million at December 31, 2021 and 2020, respectively. The debt discount and issuance costs are being amortized using the effective interest method. The rate was 4.9% and 6.08% at December 31, 2021 and 2020, respectively. The Term Loan Facility has an annual excess cash flow calculation, for which the prescribed formula did not result in requiring the Company to make any advance principal payments for the year ended December 31, 2021.

Interest Rate

The interest rates applicable to the loans under the Term Loan Facility equal, at our option, either, (i) in the case of ABR borrowings, the highest of (a) the Federal Funds Rate as of such day plus 50 basis points, (b) the prime rate and (c) the adjusted LIBOR rate as of such day for a deposit in U.S. dollars with a maturity of one month plus 100 basis points, provided that in no event shall the ABR be less than 150 basis points, plus, in each case, the applicable margin of 300 basis points per annum; or (ii) in the case of Eurocurrency borrowings, the greater of (a) the London interbank offered rate for the relevant currency, adjusted for statutory reserve requirements, and (b) 100 basis points, plus, in each case, the applicable margin of 400 basis points per annum.

The interest rates applicable to the loans under the Revolving Facility equal, at our option, either, (i) in the case of ABR borrowings, the highest of (a) the Federal Funds Rate as of such day plus 50 basis points, (b) the prime rate and (c) the adjusted LIBOR rate as of such day for a deposit in U.S. dollars with a maturity of one month plus 100 basis points, provided that in no event shall the ABR be less than 150 basis points, plus, in each case, the applicable margin of 225 basis points per annum; or (ii) in the case of Eurocurrency borrowings, the greater of (a) the London interbank offered rate for the relevant currency, adjusted for statutory reserve requirements, and (b) 50 basis points, plus, in each case, the applicable margin of 325 basis points per annum.

The Term Loan Facility amortizes in equal quarterly installments in aggregate annual amounts equal to 1.00% per annum of the original principal amount of the loans funded thereunder. There is no scheduled amortization under the Revolving Credit Facility.

Guarantees and Security

The obligations under the Senior Secured Credit Facility are guaranteed by ATI Investment Sub, Inc. and its wholly owned domestic subsidiaries other than certain immaterial subsidiaries and other excluded subsidiaries. The obligations under the Senior Secured Credit Facility are secured by a first priority security interest in substantially all of Array Tech, Inc.’s and the guarantors’ existing and future property and assets, including accounts receivable, inventory, equipment, general intangibles, intellectual property, investment property, other personal property, material owned real property, cash and proceeds of the foregoing.

Prepayments and Amortization

Loans under the Revolving Credit Facility may be voluntarily prepaid in whole, or in part, in each case without premium or penalty. Loans under the Term Loan Facility may be voluntarily prepaid in whole, or in part, in each case without premium or penalty (other than a 1% premium with respect to prepayments on account of certain “repricing events,” subject to exceptions, occurring within 12 months of the closing date of the Senior Secured Credit Facility).

The Senior Secured Credit Facility requires mandatory prepayments, but not permanent reductions of commitments thereunder, for excess cash flow, asset sales, subject to a right of reinvestment, and refinancing facilities.

Restrictive Covenants and Other Matters

The Senior Secured Credit Facility contains affirmative and negative covenants including covenants that restrict our incurrence of indebtedness, incurrence of liens, dispositions, investments, acquisitions, restricted payments, transactions with affiliates, as well as other negative covenants customary for financings of this type.

The Revolving Credit Facility also includes a springing financial maintenance covenant that is tested on the last day of each fiscal quarter if the outstanding loans and certain other credit extensions under the Revolving Credit Facility exceed 35% of the aggregate amount of commitments thereunder, subject to customary exclusions and conditions. If the financial maintenance covenant is triggered, the first lien net leverage ratio will be tested for compliance not to exceed 7.10 to 1.00.

The Senior Secured Credit Facility also includes customary events of default, including the occurrence of a change of control. As of December 31, 2021, the Company was in compliance with all the required covenants.

Future maturities of the Senior Secured Credit Facility (in thousands):


	Amount
2022	$	4,300
2023	4,300
2024	4,300
2025	4,300
2026	4,300
Thereafter	305,275
	$	326,775

For the years ended December 31, 2021, 2020 and 2019, interest expense related to all long-term debt totaled $35.7 million, $11.3 million and $11.5 million, respectively, which consisted of cash interest, and amortization of the debt discount and financing costs.

Convertible Debt


	December 31,
	2021		2020
1% Senior unsecured convertible notes	$	425,000	$	—
Less: unamortized discount and issuance costs	(13,137)		—
1% Senior unsecured convertible notes, net (1)	$	411,863	$	—

(1) Effective interest rate for the Notes for the year ended December 31, 2021 was 1.5%.

On December 3, 2021 and December 9, 2021, the Company completed a private offering of $375 million and $50 million over allotment, respectively, in aggregate principal amount of 1.00% Convertible Senior Notes due 2028 (the “Notes”) resulting in proceeds of $364.7 million and $48.6 million, respectively, after deducting the original issue discount of 2.75%. The Notes were issued pursuant to an indenture, dated December 3, 2021 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee.

The Notes are senior unsecured obligations of the Company and will mature on December 1, 2028, unless earlier converted redeemed or repurchased. The Notes bear interest at a rate of 1.00% per year, payable semiannually in arrears on June 1 and December 1 of each year, beginning on June 1, 2022.

The Notes were not convertible during the quarter ended December 31, 2021 and none have been converted to date. Also given the average market price of the common stock has not exceeded the exercise price since inception, there was no dilutive impact for the year ended December 31, 2021.

Redemption

At any time prior to the close of business on the business day immediately preceding June 1, 2028, the Notes are convertible at the option of the holders only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on March 31, 2022 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price then in effect on each applicable trading day; (2) during the five business day period after any ten consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate for the Notes on each such trading day; (3) if the Company calls such Notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date, but only with respect to the Notes called (or deemed called) for redemption; or (4) upon the occurrence of specified corporate events as described in the Indenture. On or after June 1, 2028 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the Notes may convert all or any portion of their Notes at any time regardless of the foregoing circumstances. Upon conversion of the Notes, the Company will pay cash up to the aggregate principal amount of the Notes to be converted and pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election, in respect of the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the Notes being converted.

The Company may redeem (an “Optional Redemption”) for cash all or any portion of the Notes, at its option, on or after December 6, 2025, if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If the Company redeems less than all the outstanding Notes, at least $100 million aggregate principal amount of Notes must be outstanding and not subject to redemption as of the date of the relevant notice of redemption. No sinking fund is provided for the Notes.

The conversion rate for the Notes was initially 41.9054 shares of the Company’s common stock per $1,000 principal amount of Notes, which was equivalent to an initial conversion price of approximately $23.86 per share of common stock or 10.1 million shares of common stock. The initial conversion price of the Notes represented a premium of approximately 32.5% to the last reported sale price of the Company’s common stock on the Nasdaq Global Market on November 30, 2021. The conversion rate for the Notes is subject to adjustment under certain circumstances in accordance with the terms of the Indenture. In addition, following

certain corporate events that occur prior to the maturity date of the Notes or if the Company delivers a notice of redemption in respect of the Notes, the Company will, under certain circumstances, increase the conversion rate of the Notes for a holder who elects to convert its Notes (or any portion thereof) in connection with such a corporate event or convert its Notes called (or deemed called) for redemption during the related Redemption Period (as defined in the Indenture), as the case may be.

If the Company undergoes a Fundamental Change (as defined in the Indenture), holders may require, subject to certain conditions and exceptions, the Company to repurchase for cash all or any portion of their Notes at a Fundamental Change Repurchase Price (as defined in the Indenture) equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, to, but excluding, the Fundamental Change Repurchase Date (as defined in the Indenture).

The Indenture includes customary covenants and sets forth certain events of default after which the Notes may be declared immediately due and payable and sets forth certain types of bankruptcy or insolvency events of default involving the Company or its Significant Subsidiaries after which the Notes become automatically due and payable.

The Convertible Notes were evaluated for embedded derivatives noting there were none that needed to be bifurcated and accounted for separately.

Interest expense on the convertible debt of $0.4 million was recognized for the Notes included contractual interest expense of $0.3 million and the amortization of debt discount and issuance cost of $0.1 million for the year ended December 31, 2021. The discount and issuance costs will be amortized over the life of the debt using the effective interest rate of 1.5%.

Capped Call

On November 30, 2021, concurrently with the pricing of the Notes, the Company also entered into privately negotiated capped call transactions (the “Capped Calls”) with Morgan Stanley & Co. LLC, Credit Suisse Capital LLC, through its agent, Credit Suisse Securities (USA) LLC and JPMorgan Chase Bank, N.A., New York Branch (collectively, the “Counterparties”). The Capped Calls each have an initial strike price of $23.8633 per share, subject to certain adjustments, which corresponds to the initial conversion price of the Notes. The Capped Calls have initial cap prices of $36.0200 per share, subject to certain adjustments. The Capped Calls cover, subject to anti-dilution adjustments, approximately 17.8 million shares of the Company’s common stock. The Capped Calls are expected generally to reduce potential dilution to the common stock upon conversion of any Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap based on the cap price. The Company paid $52.9 million from the net proceeds from the issuance and sale of the Notes to purchase the Capped Calls. The Capped Calls are subject to either adjustment or termination upon the occurrence of specified extraordinary events affecting the Company, including a merger event; a tender offer; and a nationalization, insolvency or delisting involving the Company. In addition, the Capped Calls are subject to certain specified additional disruption events that may give rise to terminations of the Capped Calls, including changes in law; failures to deliver; and hedging disruptions.

Certain Initial Purchasers under the Array Technologies, Inc. 1.00% Convertible Senior Notes due 2028 Purchase Agreement and Counterparties under the confirmations entered into in connection with the Capped Calls, or their affiliates, have engaged in, and may in the future engage in, other commercial dealings with the

Company or its affiliates in the ordinary course of business. They have received, or may in the future receive, customary fees and commissions for those transactions.

The Capped Calls meet the criteria in ASC 815-40 to be classified within Stockholders' Equity, and therefore was recorded to additional paid in capital at the fair value on issuance which was equal to the premium paid. Due to the instrument being classified in equity, it is not remeasured after issuance.

The Company made a tax election to integrate the Notes and the Capped Calls. The accounting impact of this tax election makes the Capped Calls deductible as original issue discount interest for tax purposes over the term of the note, and results in a $12.4 million deferred tax asset recorded as an adjustment to Additional paid-in capital on our Balance Sheet as of December 31, 2021.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Convertible Debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Convertible Debt

Senior Secured Credit Facility Long term debt consisted of the following (in thousands):


	December 31,
	2021		2020
Term loan facility	$	326,775	$	460,000
Revolving credit facility	—		—
	326,775		460,000
Less discount and issuance costs	(23,291)		(31,717)
Long term debt, net of debt discount and financing costs	303,484		428,283
Less current portion of long-term debt	(4,300)		(4,313)
Long-term Senior Secured Credit Facility debt, net of current portion, debt discount and financing costs	$	299,184	$	423,970

Senior Secured Credit Facility

Revolving Credit Facility

Term Loan Facility

Interest Rate

Guarantees and Security

Prepayments and Amortization

Restrictive Covenants and Other Matters

Future maturities of the Senior Secured Credit Facility (in thousands):


	Amount
2022	$	4,300
2023	4,300
2024	4,300
2025	4,300
2026	4,300
Thereafter	305,275
	$	326,775

Convertible Debt


	December 31,
	2021		2020
1% Senior unsecured convertible notes	$	425,000	$	—
Less: unamortized discount and issuance costs	(13,137)		—
1% Senior unsecured convertible notes, net (1)	$	411,863	$	—

(1) Effective interest rate for the Notes for the year ended December 31, 2021 was 1.5%.

Redemption

The Convertible Notes were evaluated for embedded derivatives noting there were none that needed to be bifurcated and accounted for separately.

Capped Call

Company or its affiliates in the ordinary course of business. They have received, or may in the future receive, customary fees and commissions for those transactions.

- Definition

+ References

+ Details

Redeemable Perpetual Preferred	12 Months Ended
Redeemable Perpetual Preferred	Dec. 31, 2021
Temporary Equity Disclosure [Abstract]
Redeemable Perpetual Preferred	Redeemable Perpetual Preferred Series A Redeemable Perpetual Preferred On August 10, 2021, the Company entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) pursuant to which on August 11, 2021, the Company issued and sold to certain investors (the “Purchasers”) 350,000 shares of a newly designated Series A Redeemable Perpetual Preferred Stock of the Company, par value $0.001 per share (the “Series A Redeemable Perpetual Preferred Stock”), and 7,098,765 shares of the Company’s common stock, par value $0.001 per share (“Common Stock”), for an aggregate purchase price of $346.0 million (the “Initial Closing”). Further, pursuant to the Securities Purchase Agreement, on September 27, 2021, the Company issued and sold to the Purchaser 776,235 shares of Common Stock for an aggregate purchase price of $776 (the “Prepaid Forward Contract”). The Company used net proceeds from the Initial Closing to repay $102.0 million, which was the amount outstanding under the Company’s existing revolving credit facility and prepaid $100 million under the Company’s term loan. The Purchaser is entitled to designate one representative to be appointed to the Company’s board of directors, and to appoint three non-voting observers to the Board, in each case until such time as the Purchaser no longer beneficially own shares of the Series A Redeemable Perpetual Preferred Stock with at least $100 million aggregate Liquidation Preference (as defined below). The Series A Redeemable Perpetual Preferred Stock has no maturity date. Additional Closings The Securities Purchase Agreement gives the Company the option to require the Purchaser to purchase, in one or more additional closings, up to 150,000 shares, until June 30, 2023, of the Series A Redeemable Perpetual Preferred Stock and up to 3,375,000 shares of Common Stock (or up to 6,100,000 shares of Common Stock in the event of certain price-related adjustments) (subject to certain equitable adjustments pursuant to any stock dividend, stock split, stock combination, reclassification or similar transaction) for an aggregate purchase price up to $148 million (the “Delayed Draw Commitment”). The Company evaluated the accounting for the instruments issued in the Securities Purchase Agreement and determined the Series A Redeemable Perpetual Preferred Stock and Common Stock issued in the Initial Closing, as well as the Prepaid Forward Contract, and Delayed Draw Commitment are freestanding instruments accounted for in equity. The Series A Redeemable Perpetual Preferred Stock is recorded in temporary equity on the consolidated balance sheets as it has redemption features upon certain triggering events that are outside the Company’s control, such as a fundamental change. The proceeds of the Series A Redeemable Perpetual Preferred Stock, and transactions costs and discount of $15.4 million have been allocated to each instrument based on its relative fair value. At the Initial Closing date, $229.8 million was allocated to the Series A Redeemable Perpetual Preferred Stock, $105.4 million to Common Stock, $12.4 million to the Delayed Draw Commitment which was recorded as a debit to additional paid-in-capital, and $11.7 million for a Prepaid Forward Contract. Dividends On or prior to the fifth anniversary of the Initial Closing, the Company may pay dividends on the Series A Redeemable Perpetual Preferred Stock either in cash at the then-applicable Cash Regular Dividend Rate (as defined below), through accrual to the Liquidation Preference at the Accrued Regular Dividend Rate of 6.25% (the “Permitted Accrued Dividends”), or a combination thereof. Following the fifth anniversary of the Initial Closing, dividends shall be payable only in cash. To the extent the Company does not declare such dividends and pay in cash following the fifth anniversary of the Initial Closing, the dividends accrue to the Liquidation Preference (“Default Accrued Dividends”) at the then-applicable Cash Regular Dividend Rate plus 200 basis points. In the event there are Default Accrued Dividends outstanding for six consecutive quarters, the Company, at the option of the holder of the Series A Redeemable Perpetual Preferred Stock (each a “Holder”), will pay 100% of the amount of Default Accrued Dividends by delivering to the Holder a number of shares of Common Stock equal to the quotient of (i) the amount of Default Accrued Dividends) divided by (ii) 95% of the 30-day VWAP of the Common Stock (“Non-Cash Dividend”). The “Cash Regular Dividend Rate” of the Series A Redeemable Perpetual Preferred Stock means (i) initially, 5.75% per annum on the Liquidation Preference and (ii) increased by (a) 50 basis points on each of the fifth, sixth and seventh anniversaries of the Initial Closing and (b) 100 basis points on each of the eighth, ninth and tenth anniversaries of the Initial Closing. The “Accrued Regular Dividend Rate” on the Series A Redeemable Perpetual Preferred Stock means 6.25% per annum on the Liquidation Preference. Dividends declared as of December 31, 2021 were $8.2 million and $8.1 million were paid. The Series A preferred stock have similar characteristics of an “Increasing Rate Security” as described by SEC Staff Accounting Bulletin Topic 5Q, Increasing Rate Preferred Stock. As a result, the discount on Series A preferred stock is considered an unstated dividend cost that is amortized over the period preceding commencement of the perpetual dividend using the effective interest method, by charging imputed dividend cost against retained earnings, or additional paid in capital in the absence of retained earnings, and increasing the carrying amount of the Series A preferred stock by a corresponding amount. The discount of $120.2 million is therefore being amortized over five years using the effective yield method. The amortization in each period is the amount which, together with the stated dividend in the period, results in a constant rate of effective cost with regard to the carrying amount of the Series A preferred stock. The Company has presented the Series A Redeemable Perpetual Preferred Stock in temporary equity and is accreting the discount on the increasing rate dividends using the effective interest method. Such accretion totaled $7.4 million for the year ended December 31, 2021. The Company had no dividends accreted to the carrying value of the Series A Redeemable Perpetual Preferred Stock the regular cash rate of dividends of 5.75%, as they were paid as of the year ended December 31, 2021. Fees Until June 30, 2023, the Company will pay the Purchaser a cash commitment premium on the unpurchased portion of Delayed Draw Commitment as follows: a.—% through the six-month anniversary of the Initial Closing; b.1.5% from the six-month anniversary of the Initial Closing through the 12-month anniversary of the Initial Closing; and c.3.0% from the 12-month anniversary of the Initial Closing through June 30, 2023. The Company may terminate some or all of the Delayed Draw Commitment, from time to time, at its sole discretion. Ranking and Liquidation Preference The Series A Redeemable Perpetual Preferred Stock ranks senior to the Common Stock with respect to dividend rights and rights upon the voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company (a “Liquidation”). Upon a Liquidation, each share of Series A Redeemable Perpetual Preferred Stock would be entitled to receive an amount per share (the “Liquidation, Redemption or Repurchase Amount”) equal to the greater of (i) the Liquidation Preference of such share, plus all accrued and unpaid dividends (including any Accrued Dividends) thereon and (ii) an amount in cash equal to the sum of (a) 130.0% of the Initial Liquidation Preference (as defined below) of such share, minus (b) the cumulative amount of cash dividends paid in respect of such share prior to such payment. As used herein, “Liquidation Preference” means, with respect to any share of the Series A Redeemable Perpetual Preferred Stock, the initial liquidation preference of $1,000 per share (the “Initial Liquidation Preference”) plus any Accrued Dividends of such share as of the time of determination. Redemption Rights The Company may redeem all or any portion of the Series A Redeemable Perpetual Preferred Stock (in increments of not less than $200 million based on the Liquidation Preference of such shares of Series A Redeemable Perpetual Preferred Stock to be redeemed at such time (or such lesser amount to the extent the Company chooses to redeem all of the outstanding shares of Series A Redeemable Perpetual Preferred Stock)) for an amount in cash equal to the Liquidation, Redemption or Repurchase Amount. Upon a “Fundamental Change” (involving a change of control, bankruptcy, insolvency or liquidation of the Company as further described in the Certificate of Designations), each Holder shall have the right to require the Company to redeem all or any part of the Holder’s Series A Redeemable Perpetual Preferred Stock for an amount in cash equal to the Liquidation, Redemption or Repurchase Amount. Voting and Consent Rights Each Holder of Series A Redeemable Perpetual Preferred Stock will have one vote per share on any matter on which Holders of Series A Redeemable Perpetual Preferred Stock are entitled to vote separately as a class (as described below), whether at a meeting or by written consent. The Holders of shares of Series A Redeemable Perpetual Preferred Stock do not otherwise have any voting rights. The consent of the Holders of a majority of the outstanding shares of Series A Redeemable Perpetual Preferred Stock will be required for so long as the Threshold Amount remains outstanding for (i) amendments to the Company’s organizational documents that have an adverse effect on the Holders, (ii) issuances by the Company of securities that are senior to, or equal in priority with, the Series A Redeemable Perpetual Preferred Stock, (iii) entrance into, or amendments to, transactions with affiliates of the Company, (iv) incurrence by the Company of indebtedness, unless the Consolidated Total Leverage Ratio (as defined in the Certificate of Designations) would not exceed 8.5-to-1 after giving effect to such incurrence (other than drawdowns by the Company under the Company’s current Revolving Credit Facility) or (v) any payment of dividends or making of distributions on equity securities of the Company ranking junior to the Series A Redeemable Perpetual Preferred Stock or redemptions, purchases or direct or indirect acquisitions of such equity securities ranking junior to or parity with the Series A Redeemable Perpetual Preferred Stock by the Company, unless the Consolidated Total Leverage Ratio (as defined in the Certificate of Designations) would not exceed 8.5-to-1 after giving effect to such dividends, distributions, redemptions, purchases or acquisitions.

Related Party Loan	12 Months Ended
Related Party Loan	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Loan	Related Party Loan The Company had a senior secured promissory note, as amended, with a unit holder of Former Parent that had a balance, net of debt discount and issuance costs, as of December 31, 2019 of $41.8 million for which the Company paid off the balance on July 31, 2020 to settle the obligation with respect to the Senior Secured Loan. The Company paid interest expense for the years ended December 31, 2020 and 2019 of $3.8 million and $7.3 million, respectively, which consisted of cash interest, PIK interest and amortization of the debt discount.Related Party Transactions Accounts Payable-Related Party The Company had $0.6 million and $2.2 million at December 31, 2021 and 2020, respectively, of accounts payable-related party with the former shareholders of Array. The payables relate to a federal tax refund related to the pre-Acquisition periods, restricted cash at Acquisition Date which were due to the sellers of Array upon release of the restriction offset by a receivable related to a sales/use tax audit from the pre-Acquisition period for which the seller provided the Company with indemnification. Consent Fees-Related Party The Company incurred $2.2 million in consent fees with the former majority shareholder of Array to allow a carryback of post-acquisition net operating losses to pre-acquisition periods under the CARES Act. The consent fee is included in accounts payable – related party and other expense, net in the accompanying consolidated financial statements at December 31, 2020. Special Distribution to Former Parent On October 14, 2020, the Company issued a special distribution of $589 million to Former Parent (the “Special Distribution”). Related Party Loans - see Note 12 Contingent Consideration - see Note 16

Common and Preferred Stock	12 Months Ended
Common and Preferred Stock	Dec. 31, 2021
Equity [Abstract]
Common and Preferred Stock	Common and Preferred Stock Authorized Shares On October 14, 2020, in connection with the IPO, a new Certificate of Incorporation became effective for the Company, which authorized capital stock of 1,000,000,000 shares of common stock, $0.001 par value, and 5,000,000 shares of preferred stock, $0.001 par value. Common Stock Voting Rights Each holder of Common Stock shall be entitled to one vote for each share of Common Stock held as of the applicable record date on any matter that is submitted to a vote or for the consent of the stockholders of the Company. Dividends The holders of Common Stock shall be entitled to share equally, on a per share basis, in such dividends and other distributions of cash, property or shares of stock of the Company as may be declared by the Board of Directors of the Company (the “Board”), subject to the preferences applicable to holders of Preferred Stock. Liquidation In the event of the voluntary or involuntary liquidation, dissolution, distribution of assets or winding up of the Company, all assets of the Corporation of whatever kind available for distribution to the holders of Common Stock shall be divided among and paid ratably to the holders of Common Stock, subject to the preferences applicable to holders of Preferred Stock. Preferred Stock Preferred Stock may be issued from time to time by the Company for such consideration as may be fixed by the Board. The Board is authorized to provide for one or more series of Preferred Stock and to fix the designation of such series, the voting rights, preferences and relative, participating, optional and other special rights, and the qualifications, limitations or restrictions thereof, of such series of Preferred Stock and the number of shares of such series, as may be permitted under the General Corporation Law of the State of Delaware. The powers, preferences and relative, participating, optional and other special rights of, and the qualifications, limitations or restrictions thereof, of each series of Preferred Stock, if any, may differ from those of any and all other series at any time outstanding.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Revenues

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenues

Based on Topic 606 provisions, the Company disaggregates its revenue from contracts with customers by those sales recorded over-time and sales recorded at a point in time. The following table presents the Company’s revenue disaggregated by sales recorded over-time and sales recorded at a point in time (in thousands):


	Year Ended December 31,
	2021		2020		2019
Over-time Revenues	$	626,057	$	503,238	$	493,633
Point in time Revenues	227,261		369,424		154,266
Total Revenue	$	853,318	$	872,662	$	647,899

As discussed in FN 22 to the consolidated financial statements, ITC-related contracts were determined to have multiple performance obligations satisfied at a point in time instead of one performance obligation satisfied over time. Total revenue was not impacted, but the disaggregated revenue information above for 2020 and 2019 has been revised to correct this error, which resulted in $360.1 and $106.2 of revenue being reclassified from over-time revenue to point in time revenue for 2020 and 2019, respectively.

Contract Balances

The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and deferred revenue (contract liabilities) on the condensed consolidated balance sheets. The majority of the Company’s contract amounts are billed as work progresses in accordance with agreed-upon contractual terms, which generally coincide with the shipment of one or more phases of the project. Billing sometimes occurs subsequent to revenue recognition, resulting in contract assets. The changes in contract assets (i.e., unbilled receivables) and the corresponding amounts recorded in revenue relate to fluctuations in the timing and volume of billings for the Company’s revenue recognized over-time.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Earnings (Loss) per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings (Loss) per Share

Earnings (Loss) per Share The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share amounts):


	Year Ended December 31,
	2021		2020		2019
Net income (loss)	$	(50,403)	$	59,073	39,745
Preferred dividends and accretion	(15,715)		—		—
Net income (loss) to common shareholders	(66,118)		59,073		39,745
Basic:
Weighted-average shares	129,984		121,467		119,994
Earnings (loss) per share	$	(0.51)	$	0.49	$	0.33
Diluted:
Weighted-average shares	129,984		121,467		119,994
Equity compensation dilutive securities	—		47		—
Weighted average dilutive shares	129,984		121,514		119,994
Earnings (loss) per share	$	(0.51)	$	0.49	$	0.33

Potentially dilutive common shares issuable pursuant to equity-based awards of 227,253 were not included for the year ended December 31, 2021 as their potential effect was anti-dilutive as the Company generated a net loss. There were no potentially dilutive common shares issuable pursuant to our 1% Senior Notes as the stock price is below the strike price and the Company generated a net loss.

The Company’s capped call option agreement entered into in December 2021 is not included in the calculation of the earnings per share as the impact would be anti-dilutive. The potential shares issuable under the Company’s convertible 1% notes issued in December 2021 are not included in the earnings per share calculation as the par value of the notes is required to be paid in cash upon conversion and the stock price has not exceeded the conversion price on the notes at December 31, 2021.

There were 26,671,594 Class B units and 1,000 Class C units of Former Parent issued to certain employees or directors of the Company which were not included in the calculation of basic or diluted EPS for the years ended December 31, 2020 and 2019, as the Class B and Class C units do not represent potential units of the Company.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Litigation

The Company, in the normal course of business, is subject to claims and litigation. The Company reviews the status of each matter and assesses its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, the Company would accrue a liability for the estimated loss.

On May 14, 2021, a putative class action was filed in the U.S. District Court for the Southern District of New York against the Company and certain officers and directors alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5, promulgated thereunder, and Sections 11, 12(a)(2) and 15 of the Securities Exchange Act of 1933 (“Plymouth Action”). The Plymouth Action alleges misstatements and/or omissions in the Company’s registration statements and prospectuses related to the Company’s IPO, the Company’s December 2020 offering (the “2020 Follow-On Offering”), and the Company’s March 2021

offering (the “2021 Follow-On Offering”) during the putative class period of October 14, 2020 through May 11, 2021.

On June 30, 2021, a second putative class action was filed in the Southern District of New York against the Company and certain officers and directors alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5, promulgated thereunder, and Sections 11 and 15 of the Securities Exchange Act of 1933 (“Keippel Action”). The Keippel Action similarly alleged misstatements and/or omissions in certain of the Company’s registration statements and prospectuses related to the Company’s IPO, the Company’s 2020 Follow-On Offering, and the Company’s 2021 Follow-On Offering during the putative class period of October 14, 2020 through May 11, 2021. On July 6, 2021, the Court entered an order that the Keippel Action was in all material respects substantially similar to the Plymouth Action that both actions arise out of the same or similar operative facts, and that the parties are substantially the same parties. The Court accordingly consolidated the Keippel Action with the Plymouth Action for all pretrial purposes and, ordered all filings to be made in the Plymouth Action.

On July 16, 2021, a verified derivative complaint was filed in the Southern District of New York against certain officers and directors of the Company (“First Derivative Action”). The complaint alleges: (1) violations of Section 14(a) of the Securities Exchange Act of 1934 for misleading proxy statements, (2) breach of fiduciary duty, (3) unjust enrichment, (4) abuse of control, (5) gross mismanagement, (6) corporate waste, (7) aiding and abetting breach of fiduciary duty, and (8) contribution under sections 10(b) and 21D of the Securities Exchange Act of 1934.

On July 30, 2021, a second and related verified derivative complaint was filed in the Southern District of New York against certain officers and directors of the Company (“Second Derivative Action”). The complaint alleges: (1) violations of Section 14(a) of the Securities Exchange Act of 1934 for causing the issuance of a false/misleading proxy statement, (2) breach of fiduciary duty, and (3) aiding and abetting breaches of fiduciary duty. On August 24, 2021, the Second Derivative Action was consolidated with the First Derivative Action, the Court appointed co-lead counsel, and the case was temporarily stayed pending the entry of an order on all motions to dismiss directed at the pleadings filed in the Plymouth Action. The stay shall remain in effect until the later of (a) the entry of an order on any motions to dismiss the Plymouth Action or, (b) to the extent the complaint in the Plymouth Action is amended, the entry of an order on any motions to dismiss any such amended complaints in the Plymouth Action.

On September 21, 2021, the Court appointed a group comprised of institutional investors Plymouth County Retirement Association and Carpenters Pension Trust Fund for Northern California as lead plaintiff in the Plymouth Action. The deadline for the lead plaintiff to file an amended complaint in the Plymouth action was originally November 19, 2021 but was subsequently extended by agreement of the parties and further order of the Court.

On December 7, 2021, an amended class action complaint was filed by lead plaintiff in the Plymouth Action against the Company and certain officers and directors alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5, promulgated thereunder, and Sections 11, 12(a)(2), and 15 of the Securities Exchange Act of 1933, on behalf of a putative class of persons and entities that purchased or otherwise acquired the Company’s securities during the period from October 14, 2020 through May 11, 2021 (the “Consolidated Amended Complaint”). The Consolidated Amended Complaint alleges misstatements and/or omissions in: (1) certain of the Company’s registration statements and prospectuses related to the Company’s IPO, the Company’s 2020 Follow-On Offering, and the Company’s 2021 Follow-On Offering; (2) in the

Company’s annual report and associated press release announcing results for the fourth quarter and full fiscal year 2020; and (3) in the Company’s November 5, 2020 and March 9, 2021 earnings calls.

Consistent with the individual rules of practice for the Court in the Plymouth Action, on January 24, 2022, the defendants in the Plymouth Action, including the Company and certain of its officers and directors named as defendants therein, served on lead plaintiff and the Court a letter outlining why the Consolidated Amended Complaint should be dismissed in its entirety. Lead plaintiff must respond to that letter on or before February 23, 2022, stating the extent, if any, to which lead plaintiff concurs with the defendants’ objections and the amendments, if any, to be made to the Consolidated Amended Complaint to address them, or else stating the reasons and controlling authority that lead plaintiff asserts supports the Consolidated Amended Complaint. If, as a result of this exchange of letters, the parties have failed to resolve their dispute about the sufficiency of the Consolidated Amended Complaint, then, on or before March 21, 2022, defendants must submit a letter to the Court setting forth the reason why a motion dismiss is warranted.

At this time the Company believes that the likelihood of any material loss related to these matters is remote given the preliminary stage of the claims and strength of the Company’s defenses. The Company has not recorded any material loss contingency in the consolidated balance sheets as of December 31, 2021.

Contingent Consideration

Tax Receivable Agreement

Concurrent with the Acquisition, Array Tech, Inc. (f/k/a Array Technologies, Inc.) entered into a Taxes Receivable Agreement (“TRA”) with the former majority shareholder of Array. The TRA is valued based on the future expected payments under the agreement. The TRA provides for the payment by Array Tech, Inc. to the former owners for certain federal, state, local and non-U.S. tax benefits deemed realized in post-closing taxable periods by Array, from the use of certain deductions generated by the increase in the tax value of the developed technology. The TRA is accounted for as contingent consideration and subsequent changes in fair value of the contingent liability are recognized in contingent consideration in the accompanying consolidated statements of operations. At December 31, 2021 and December 31, 2020, the fair value of the TRA was $14.6 million and $19.7 million, respectively.

Estimating the amount of payments that may be made under the TRA is by nature imprecise. The significant fair value inputs used to estimate the future expected TRA payments to the former owners include the timing of tax payments, a discount rate, book income projections, timing of expected adjustments to calculate taxable income and the projected rate of use for attributes defined in the TRA.

Payments made under the TRA consider tax positions taken by the Company and are due within 125 days following the filing of the Company’s U.S. federal and state income tax returns under procedures described in the agreement. The current portion of the TRA liability is based on tax returns. The TRA will continue until all tax benefit payments have been made or the Company elects early termination under the terms described in the TRA.

As of December 31, 2021, the undiscounted future expected payments through December 31, under the TRA are as follows (in thousands):


	Amount
2022	$	1,773
2023	—
2024	3,533
2025	1,772
2026	1,774
Thereafter	11,532
	$	20,384

Earn-Out Liability

The Company had a liability to the selling stockholders of Array for contingent consideration consisting of earn-out payments in the form of cash upon the occurrence of certain events, including the sale, transfer, assignment, pledge, encumbrance, distribution or disposition of shares held by the acquirer to a third-party; initial public offering of the equity securities of Former Parent, acquirer or the Company; the sale of equity securities or assets of Former Parent, acquirer or the Company to a third-party; or a merger, consolidation, recapitalization or reorganization of Former Parent, acquirer or the Company. The maximum aggregate earn-out consideration was $25.0 million. The earn-out liability was paid off in the fourth quarter of the fiscal year ended December 31, 2020.

The fair value of the earn-out liability was initially determined as of the Acquisition Date using unobservable inputs. These inputs include the estimated amount and timing of future cash flows, the probability of a qualifying event occurring, and a risk-free rate used to adjust the probability-weighted cash flows to their present value. Subsequent to the Acquisition Date, at each reporting period, the earn-out liability was re-measured to fair value with changes in fair value recorded in contingent consideration in the accompanying consolidated statements of operations.

The following table summarizes the liability related to the estimated contingent consideration (in thousands):


	TRA		Earn-Out Liability		Contingent Consideration
Balance, December 31, 2018	$	17,168	$	442	$	17,610
IRS Settlement	(2,727)		—		(2,727)
Fair value adjustment	3,367		—		3,367
Balance, December 31, 2019	17,808		442		18,250
IRS Settlement	1,883		24,558		26,441
Fair value adjustment	—		(25,000)		(25,000)
Balance, December 31, 2020	19,691		—		19,691
Fair value adjustment	2,696		—		2,696
Payments	(7,810)		—		(7,810)
Balance, December 31, 2021	$	14,577	$	—	$	14,577

The TRA and earn-out liabilities require significant judgment and are classified as Level 3 in the fair value hierarchy.

Surety Bond

The Company provides surety bonds to various parties as required for certain transactions initiated during the ordinary course of business to guarantee the Company’s performance in accordance with contractual or legal obligations. As of December 31, 2021, the maximum potential payment obligation with regard to surety bonds was $160.4 million.

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The carrying values and the estimated fair values of debt financial instruments as of December 31 are as follows:


	2021				2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
Convertible senior notes	$	411,863	$	410,771	$	—	$	—

The carrying values of the Company's revolving credit facility recorded in long-term debt on the Balance Sheet approximate fair value due to the variable interest rate. The fair value of the Convertible senior notes is estimated using Level 2 inputs as they are not registered securities nor listed on any securities exchange but may be traded by qualified institutional buyers.

Equity Based Compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Equity Based Compensation

Equity-Based Compensation

2020 Plan

On October 14, 2020, the Company’s 2020 Equity Incentive Plan (the “2020 Plan”) became effective. The 2020 Plan authorized 6,683,919 new shares, subject to adjustments pursuant to the 2020 Plan.

During the year ended December 31, 2021, the Company granted an aggregate of 661,924 restricted stock units (“RSUs”) to employees and board of director members and 177,472 Performance Stock Units (PSUs) to certain executives. The fair value of the RSUs is determined using the market value of common stock on the grant date. The PSUs cliff vest after three years and upon meeting certain revenue and adjusted EPS targets. The PSUs also contain a modifier based on the total stock return (TSR) compared to a certain Index which modifies the number of PSUs that vest. The PSUs were valued using a Monte-Carlo simulation method with a volatility assumption of 66%, risk free interest rate of 0.28% based on the United States Treasury Constant Maturity rates and no dividends paid assumption. Based on results achieved in 2021 and the forecasted amounts over the remainder of the performance period, the Company does not expect the units to vest and therefore has recognized no expense in 2021.

Activity under the 2020 Plan was as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
RSUs
Unvested, December 31, 2019	—	—
Granted	500,006	$	22.00
Vested	—	—
Forfeited	—	—
Unvested, December 31, 2020	500,006	$	22.00
Granted	661,924	$	23.17
Vested	(157,473)	$	22.00
Forfeited	(74,048)	$	27.51
Unvested, December 31, 2021	930,409	$	22.39

	Number of Shares	Weighted Average Grant Date Fair Value
PSUs
Unvested, December 31, 2020	—	—
Granted	177,472	$	28.25
Vested	—	—
Forfeited	(29,785)	30.74
Unvested, December 31, 2021	147,687	$	27.75

Class B Units and Class C Units of Former Parent

The Company accounted for equity grants to employees (Class B units and Class C units, “the Units”, of Former Parent) as equity-based compensation under ASC 718, Compensation-Stock Compensation. The Units contain vesting provisions as defined in the agreement. Vested units do not forfeit upon termination and represent a residual interest in Former Parent. Equity-based compensation cost is measured at the grant date fair value and is recognized on a straight-line basis over the requisite service period, including those units with graded vesting with a corresponding credit to additional paid-in capital as a capital contribution from Former Parent. However, the amount of equity-based compensation at any date is equal to the portion of the grant date value of the award that is vested.

The Units issued to employees are measured at fair value on the grant date using an option pricing model. The Company utilizes the estimated weighted average of the Company’s expected fund life dependent on various exit scenarios to estimate the expected term of the awards. Expected volatility is based on the average of historical and implied volatility of a set of comparable companies, adjusted for size and leverage. The risk-free rates are based on the yields of U.S. Treasury instruments with comparable terms. Actual results may vary depending on the assumptions applied within the model.

On November 19, 2019 and May 19, 2020, Former Parent issued 22,326,653 and 4,344,941, respectively, Class B units to certain employees of the Company. On March 28, 2020, Former Parent issued 1,000 Class C units to a member of the board of directors of Array Technologies, Inc.

On March 23, 2021, in connection with the closing of the 2021 Follow-on Offering, all of the outstanding Class B Units of Former Parent were immediately vested per the terms of the equity awards, resulting in the Company accelerating the recognition of expense of $8.9 million.

For the years ended December 31, 2021, 2020 and 2019, the Company recognized $16.3 million, $4.8 million and $0.8 million, respectively, in equity-based compensation. At December 31, 2021, the Company had $16.8 million of unrecognized compensation costs related to RSU’s which is expected to be recognized over approximately 2.1 years. There were 103,833 forfeitures during the year ended December 31, 2021, and no forfeitures during 2020 and 2019.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Loan The Company had a senior secured promissory note, as amended, with a unit holder of Former Parent that had a balance, net of debt discount and issuance costs, as of December 31, 2019 of $41.8 million for which the Company paid off the balance on July 31, 2020 to settle the obligation with respect to the Senior Secured Loan. The Company paid interest expense for the years ended December 31, 2020 and 2019 of $3.8 million and $7.3 million, respectively, which consisted of cash interest, PIK interest and amortization of the debt discount.Related Party Transactions Accounts Payable-Related Party The Company had $0.6 million and $2.2 million at December 31, 2021 and 2020, respectively, of accounts payable-related party with the former shareholders of Array. The payables relate to a federal tax refund related to the pre-Acquisition periods, restricted cash at Acquisition Date which were due to the sellers of Array upon release of the restriction offset by a receivable related to a sales/use tax audit from the pre-Acquisition period for which the seller provided the Company with indemnification. Consent Fees-Related Party The Company incurred $2.2 million in consent fees with the former majority shareholder of Array to allow a carryback of post-acquisition net operating losses to pre-acquisition periods under the CARES Act. The consent fee is included in accounts payable – related party and other expense, net in the accompanying consolidated financial statements at December 31, 2020. Special Distribution to Former Parent On October 14, 2020, the Company issued a special distribution of $589 million to Former Parent (the “Special Distribution”). Related Party Loans - see Note 12 Contingent Consideration - see Note 16

Geographic Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Geographic Information

Summary information about geographic areas:

ASC 280 (“Segment Reporting”) establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company manages its business on the basis of one operating and reportable segment and derives revenues from selling its product. The Company’s long-lived assets are located in the United States.

Revenues within geographic areas based upon Customers’ project location (in thousands):


	Year Ended December 31,
	2021		2020		2019
United States	$	826,639	$	805,070	$	563,157
Australia	5,509		45,216		51,531
Rest of the world	21,170		22,376		33,211
Total Revenue	$	853,318	$	872,662	$	647,899

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Restatement (Unaudited)

12 Months Ended

Dec. 31, 2021

Accounting Changes and Error Corrections [Abstract]

Restatement (Unaudited)

Restatement of Previously Issued Unaudited Interim Condensed Consolidated Financial Statements

During the preparation of the consolidated financial statements as of and for the year ended December 31, 2021, the Company identified errors in the accounting for certain contracts under ASC 606. Specifically, certain contracts were inappropriately combined with other contracts and ITC related contracts were determined to have multiple performance obligations satisfied at a point in time instead of one performance obligation satisfied over time. The Company’s management and the audit committee of the Company’s Board of Directors concluded that it is appropriate to restate the quarterly unaudited condensed consolidated financial statements for the quarterly periods ended March 31, 2021, June 30, 2021 and September 30, 2021.

The following presents the restated quarterly unaudited financial statements as of March 31, 2021, June 30, 2021 and September 30, 2021, as well as the statements for the three month period ended March 31, 2021, the three and six month periods ended June 30, 2021 and the three and nine month periods ended September 30, 2021.


	March 31, 2021
(in thousands, except per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
ASSETS
Current assets
Cash and cash equivalents	$	19,133			$	19,133

Accounts receivable, net	121,921		2,308		124,229
Inventories, net	124,705				124,705
Income tax receivables	4,155				4,155
Prepaid expenses and other	15,639				15,639
Total current assets	285,553		2,308		287,861
Property, plant and equipment, net	9,740				9,740
Goodwill	69,727				69,727
Other intangible assets, net	192,383				192,383
Other assets	25,873				25,873
Total assets	$	583,276	$	2,308	$	585,584

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts payable	$	71,823			$	71,823
Accounts payable - related party	2,608				2,608
Accrued expenses and other	34,551				34,551
Accrued warranty reserve	3,098				3,098
Income tax payable	10,224		657		10,881
Deferred revenue	89,880				89,880
Current portion of contingent consideration	9,567				9,567

Current portion of term loan	4,300				4,300
Other current liabilities	6,288				6,288
Total current liabilities	232,339		657		232,996
Long-term liabilities
Deferred tax liability	13,043		(38)		13,005
Contingent consideration, net of current portion	10,272				10,272
Other long-term liabilities	6,055				6,055
Long-term debt, net of current portion, debt discount and issuance costs	391,682				391,682
Total long-term liabilities	421,052		(38)		421,014
Total liabilities	653,391		619		654,010
Commitments and contingencies (Note 12)
Preferred stock of 0.001 par value - 5,000,000 shares authorized; none issued as of March 31, 2021	—				—


Common stock of $0.001 par value - 1,000,000,000 shares authorized; 126,994,467 shares issued as of March 31, 2021	127				127
Additional paid-in capital	148,370				148,370
Accumulated deficit	(218,612)		1,689		(216,923)
Total stockholders’ deficit	(70,115)		1,689		(68,426)
Total liabilities and stockholders’ deficit	$	583,276	$	2,308	$	585,584


	June 30, 2021
	As Previously Reported		Restatement Adjustments		As Reported
ASSETS
Current assets
Cash and cash equivalents	$	17,682			$	17,682

Accounts receivable, net	153,610		(3,972)		149,638
Inventories, net	137,666				137,666
Income tax receivables	9,657		(1,735)		7,922
Prepaid expenses and other	11,597				11,597
Total current assets	330,212		(5,707)		324,505
Property, plant and equipment, net	9,763				9,763
Goodwill	69,727				69,727
Other intangible assets, net	186,507				186,507
Other assets	26,109				26,109
Total assets	$	622,318	$	(5,707)	$	616,611

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts payable	$	81,377			81,377
Accounts payable - related party	610				610
Accrued expenses and other	19,129				19,129
Accrued warranty reserve	2,968				2,968
Income tax payable	—				—
Deferred revenue	51,458				51,458
Current portion of contingent consideration	1,908				1,908

Current portion of term loan	4,300				4,300
Other current liabilities	6,379				6,379
Total current liabilities	168,129		—		168,129
Long-term liabilities
Deferred tax liability	14,472		(1,896)		12,576


Contingent consideration, net of current portion	10,108				10,108
Other long-term liabilities	4,273				4,273
Long-term debt, net of current portion, debt discount and issuance costs	493,945				493,945
Total long-term liabilities	522,798		(1,896)		520,902
Total liabilities	690,927		(1,896)		689,031
Commitments and contingencies (Note 12)
Preferred stock of 0.001 par value - 5,000,000 shares authorized; none issued as of June 30, 2021	—				—
Common stock of $0.001 par value - 1,000,000,000 shares authorized; 126,994,467 shares issued as of June 30, 2021	127				127
Additional paid-in capital	149,893				149,893
Accumulated deficit	(218,629)		(3,811)		(222,440)
Total stockholders’ deficit	(68,609)		(3,811)		(72,420)
Total liabilities and stockholders’ deficit	$	622,318	$	(5,707)	$	616,611


	September 30, 2021
	As Previously Reported		Restatement Adjustments		As Restated
ASSETS
Current assets
Cash and cash equivalents	$	116,391			$	116,391
Restricted cash	—				—
Accounts receivable, net	177,462		(7,354)		170,108
Inventories, net	173,126				173,126
Income tax receivables	6,453		1,029		7,482
Prepaid expenses and other	18,193				18,193
Total current assets	491,625		(6,325)		485,300
Property, plant and equipment, net	10,202				10,202
Goodwill	69,727				69,727
Other intangible assets, net	180,630				180,630
Other assets	24,405				24,405
Total assets	$	776,589	$	(6,325)	$	770,264

LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT)
Current Liabilities
Accounts payable	$	84,703			84,703
Accounts payable - related party	610				610


Accrued expenses and other	31,256				31,256
Accrued warranty reserve	3,025				3,025
Income tax payable	629				629
Deferred revenue	81,347				81,347
Current portion of contingent consideration	2,168				2,168
	—				—
Current portion of term loan	4,300				4,300
Other current liabilities	6,457				6,457
Total current liabilities	214,495		—		214,495
Long-term liabilities
Deferred tax liability	6,583		(505)		6,078
Contingent consideration, net of current portion	10,784				10,784
Other long-term liabilities	2,953				2,953
Long-term debt, net of current portion, debt discount and issuance costs	299,212				299,212
Total long-term liabilities	319,532		(505)		319,027
Total liabilities	534,027		(505)		533,522
Commitments and contingencies (Note 13)
Series A Redeemable Perpetual Preferred Stock of $0.001 par value - 500,000 authorized; 350,000 issued as of September 30, 2021; liquidation preference of $352.8 million at September 30, 2021	235,278				235,278
Stockholders’ equity/(deficit)					—
Preferred stock of $0.001 par value - 4,500,000 shares authorized; zero issued as of September 30, 2021	—				—
Common stock of $0.001 par value - 1,000,000,000 shares authorized; 134,869,467 shares issued as of September 30, 2021	135				135
Additional paid-in capital	251,330				251,330
Accumulated deficit	(244,181)		(5,820)		(250,001)
Total stockholders’ equity/(deficit)	7,284		(5,820)		1,464
Total liabilities, redeemable perpetual preferred stock and stockholders’ equity/(deficit)	$	776,589	$	(6,325)	$	770,264


	Three Months Ended March 31, 2021
(in thousands, expect per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustment		As Restated
Revenue	245,932		$	2,308	$	248,240
Cost of revenue	202,074				202,074
Gross profit	43,858		2,308		46,166

Operating expenses
General and administrative	24,673				24,673
Contingent consideration	148				148
Depreciation and amortization	5,984				5,984
Total operating expenses	30,805		—		30,805

Income from operations	13,053		2,308		15,361

Other expense
Other expense, net	(78)				(78)
Interest expense	(9,009)				(9,009)
Total other expense	(9,087)		—		(9,087)
Income before income tax expense	3,966		2,308		6,274
Income tax expense	1,079		619		1,698
Net income	$	2,887	$	1,689	$	4,576

Earnings per share
Basic	$	0.02	$	0.01	$	0.04
Diluted	$	0.02	$	0.01	$	0.04
Weighted average number of shares
Basic	126,994		126,994		126,994
Diluted	127,298		127,298		127,298


	Three Months Ended June 30, 2021
(in thousands, expect per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustment		As Restated
Revenue	202,796		$	(6,280)	$	196,516
Cost of revenue	176,009				176,009
Gross profit	26,787		(6,280)		20,507

Operating expenses
General and administrative	15,113				15,113
Contingent consideration	(13)				(13)
Depreciation and amortization	5,981				5,981
Total operating expenses	21,081		—		21,081

Income (loss) from operations	5,706		(6,280)		(574)

Other expense
Other expense, net	(122)				(122)
Interest expense	(6,651)				(6,651)
Total other expense	(6,773)		—		(6,773)
Loss before income tax expense	(1,067)		(6,280)		(7,347)
Income tax benefit	(1,050)		(780)		(1,830)
Net loss	$	(17)	$	(5,500)	$	(5,517)

Loss per share
Basic	$	—	$	(0.04)	$	(0.04)
Diluted	$	—	$	(0.04)	$	(0.04)
Weighted average number of shares
Basic	126,994		126,994		126,994
Diluted	126,994		126,994		126,994


	Three Months Ended September 30, 2021
(in thousands, expect per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
Revenue	$	192,068	$	(3,382)	$	188,686
Cost of revenue	182,789				182,789
Gross profit	9,279		(3,382)		5,897

Operating expenses
General and administrative	18,493				18,493
Contingent consideration	936				936
Depreciation and amortization	5,984				5,984
Total operating expenses	25,413		—		25,413

Loss from operations	(16,134)		(3,382)		(19,516)

Other expense
Other expense, net	(297)				(297)
Interest expense	(13,109)				(13,109)
Total other expense	(13,406)		—		(13,406)
Loss before income tax benefit	(29,540)		(3,382)		(32,922)
Income tax benefit	(3,988)		(1,373)		(5,361)
Net loss	$	(25,552)	$	(2,009)	$	(27,561)
Preferred dividends and accretion	(5,479)				(5,479)
Net loss to common shareholders	$	(31,031)	$	(2,009)	$	(33,040)
Loss per share
Basic	$	(0.24)	$	(0.02)	$	(0.25)
Diluted	$	(0.24)	$	(0.02)	$	(0.25)
Weighted average number of shares
Basic	130,955		130,955		130,955
Diluted	130,955		130,955		130,955


	Six Months Ended June 30, 2021
(in thousands, expect per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
Revenue	$	448,728	$	(3,972)	$	444,756
Cost of revenue	378,083				378,083
Gross profit	70,645		(3,972)		66,673

Operating expenses
General and administrative	39,786				39,786
Contingent consideration	135				135
Depreciation and amortization	11,965				11,965
Total operating expenses	51,886		—		51,886

Income (loss) from operations	18,759		(3,972)		14,787

Other expense
Other expense, net	(200)				(200)
Interest expense	(15,660)				(15,660)
Total other expense	(15,860)		—		(15,860)
Income (loss) before income tax expense	2,899		(3,972)		(1,073)
Income tax expense (benefit)	29		(161)		(132)
Net income (loss)	$	2,870	$	(3,811)	$	(941)

Earnings (loss) per share
Basic	$	0.02	$	(0.03)	$	(0.01)
Diluted	$	0.02	$	(0.03)	$	(0.01)
Weighted average number of shares
Basic	126,994		126,994		126,994
Diluted	127,203		127,203		127,203


	Nine Months Ended September 30,
(in thousands, expect per share and share amounts) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
Revenue	$	640,796	$	(7,354)	$	633,442
Cost of revenue	560,872				560,872
Gross profit	79,924		(7,354)		72,570

Operating expenses
General and administrative	58,279				58,279
Contingent consideration	1,071				1,071
Depreciation and amortization	17,949				17,949
Total operating expenses	77,299		—		77,299

Income (loss) from operations	2,625		(7,354)		(4,729)

Other expense
Other expense, net	(497)				(497)
Interest expense	(28,769)				(28,769)
Total other expense	(29,266)		—		(29,266)
Loss before income tax benefit	(26,641)		(7,354)		(33,995)
Income tax benefit	(3,959)		(1,534)		(5,493)
Net loss	$	(22,682)	$	(5,820)	$	(28,502)
Preferred dividends and accretion	(5,479)				(5,479)
Net loss to common shareholders	$	(28,161)	$	(5,820)	$	(33,981)
Loss per share
Basic	$	(0.22)	$	(0.05)	$	(0.26)
Diluted	$	(0.22)	$	(0.05)	$	(0.26)
Weighted average number of shares
Basic	128,315		128,315		128,315
Diluted	128,315		128,315		128,315

Statement of Changes in Shareholders' Deficit- Three Months Ended March 31, 2021


(in thousands, share amounts) (unaudited)	Preferred Stock			Common Stock			Additional
As Previously Reported	Shares	Amount		Shares	Amount		paid-in capital		Retained earnings		Total Stockholders’ Deficit




Balance, December 31, 2020	—	$	—	126,994	$	127	$	140,473	$	(221,499)	$	(80,899)
Equity based compensation	—	—		—	—		7,897		—		7,897
Net Income	—	—		—	—		—		2,887		2,887
Balance, March 31, 2021	—	$	—	126,994	$	127	$	148,370	$	(218,612)	$	(70,115)
Adjustments
Balance, December 31, 2020	—	$	—	—	$	—	$	—	$	—	—
Net Income	—	—		—	—		—		1,689		1,689
Total Adjustments	—	$	—	—	$	—	$	—	$	1,689	1,689
As Restated
Balance, December 31, 2020	—	$	—	126,994	$	127	$	140,473	$	(221,499)	$	(80,899)
Equity based compensation	—	—		—	—		7,897		—		7,897
Net Income	—	—		—	—		—		4,576		4,576
Balance, March 31, 2021 - As Restated	—	—		126,994	$	127	$	148,370	$	(216,923)	$	(68,426)

Statement of Changes in Shareholders' Deficit- Three Months Ended June 30, 2021


(in thousands, share amounts) (unaudited)	Preferred Stock			Common Stock			Additional
As Previously Reported	Shares	Amount		Shares	Amount		paid-in capital		Retained earnings		Total Stockholders’ Deficit




Balance, March 31, 2021	—	$	—	126,994	127		148,370		(218,612)		$	(70,115)
Equity-based compensation	—	—		—	—		1,523		—		1,523
Net loss	—	—		—	—		—		(17)		(17)
Balance, June 30, 2021	—	$	—	126,994	$	127	$	149,893	$	(218,629)	$	(68,609)
Adjustments
Balance, March 31, 2021	—	$	—	—	$	—	$	—	$	1,689	1,689
Net loss	—	—		—	—		—		(5,500)		(5,500)
Total Adjustments	—	$	—	—	$	—	$	—	$	(3,811)	(3,811)
As Restated
Balance, March 31, 2021	—	$	—	126,994	$	127	$	148,370	$	(216,923)	$	(68,426)
Equity based compensation	—	—		—	—		1,523		—		1,523
Net loss	—	—		—	—		—		(5,517)		(5,517)
Balance, June 30, 2021 - As Restated	—	—		126,994	$	127	$	149,893	$	(222,440)	$	(72,420)

Statement of Changes in Shareholders' Equity/(Deficit) - Three Months Ended September 30, 2021


	Temporary Equity			Permanent Equity
(in thousands, share amounts) (unaudited)	Series A Redeemable Perpetual Preferred Stock			Preferred Stock			Common Stock			Additional
As Previously Reported	Shares	Amount		Shares	Amount		Shares	Amount		paid-in capital		Retained earnings		Total Stockholders’ Deficit




Balance, June 30, 2021	—	$	—	—	$	—	126,994	127		149,893		(218,629)		$	(68,609)
Equity-based compensation	—	—		—	—		—	—		2,160		—		2,160
Issuance of Series A Preferred, net of fees	350	229,799		—	—		—	—		—		—		—
Issuance of common stock, net	—	—		—	—		7,875	8		104,756		—		104,764
Preferred cumulative dividends plus accretion	—	5,479		—	—		—	—		(5,479)		—		(5,479)
Net loss	—	—		—	—		—	—		—		(25,552)		(25,552)
Balance, September 30, 2021	350	235,278		—	$	—	134,869	$	135	$	251,330	$	(244,181)	$	7,284
Adjustments
Balance, June 30, 2021	—	—		—	$	—	—	$	—	$	—	$	(3,811)	(3,811)
Net loss	—	—		—	—		—	—		—		(2,009)		(2,009)
Total Adjustments	—	—		—	$	—	—	$	—	$	—	$	(5,820)	(5,820)
As Restated
Balance, June 30, 2021	—	—		—	$	—	126,994	$	127	$	149,893	$	(222,440)	$	(72,420)
Equity based compensation	—	—		—	—		—	—		2,160		—		2,160


Issuance of Series A Preferred, net of fees	350	229,799	—	—	—	—		—		—		—
Issuance of common stock, net	—	—	—	—	7,875	8		104,756		—		104,764
Preferred cumulative dividends plus accretion	—	5,479	—	—	—	—		(5,479)		—		(5,479)
Net loss	—	—	—	—	—	—		—		(27,561)		(27,561)
Balance, September 30, 2021 - As Restated	350	235,278	—	—	134,869	$	—	$	251,330	$	(250,001)	$	1,464

Statement of Changes in Shareholders' Deficit- Six Months Ended June 30, 2021


(in thousands, share amounts) (unaudited)	Preferred Stock			Common Stock			Additional
As Previously Reported	Shares	Amount		Shares	Amount		paid-in capital		Retained earnings		Total Stockholders’ Deficit




Balance, December 31, 2020	—	$	—	126,994	$	127	$	140,473	$	(221,499)	$	(80,899)
Equity-based compensation	—	—		—	—		9,420		—		9,420
Net loss	—	—		—	—		—		2,870		2,870
Balance, June 30, 2021	—	$	—	126,994	$	127	$	149,893	$	(218,629)	$	(68,609)
Adjustments
Balance, December 31, 2020	—	$	—	—	$	—	$	—	$	—	$	—
Net loss	—	—		—	—		—		(3,811)		(3,811)
Total Adjustments	—	$	—	—	$	—	$	—	$	(3,811)	$	(3,811)
As Restated
Balance, December 31, 2020	—	$	—	126,994	$	127	$	140,473	$	(221,499)	$	(80,899)
Equity based compensation	—	—		—	—		9,420		—		9,420
Net loss	—	—		—	—		—		(941)		(941)
Balance, June 30, 2021 - As Restated	—	—		126,994	$	127	$	149,893	$	(222,440)	$	(72,420)

Statement of Changes in Shareholders' Equity/(Deficit) - Nine Months Ended September 30, 2021


	Temporary Equity			Permanent Equity
(in thousands, share amounts) (unaudited)	Series A Redeemable Perpetual Preferred Stock			Preferred Stock			Common Stock			Additional
As Previously Reported	Shares	Amount		Shares	Amount		Shares	Amount		paid-in capital		Retained earnings		Total Stockholders’ Deficit




Balance, December 31, 2020	—	$	—	—	$	—	126,994	127		140,473		$	(221,499)	$	(80,899)
Equity-based compensation	—	—		—	—		—	—		11,580		—		11,580
Issuance of Series A Preferred, net of fees	350	229,799		—	—		—	—		—		—		—
Issuance of common stock, net	—	—		—	—		7,875	8		104,756		—		104,764
Preferred cumulative dividends plus accretion	—	5,479		—	—		—	—		(5,479)		—		(5,479)
Net loss	—	—		—	—		—	—		—		(22,682)		(22,682)
Balance, September 30, 2021	350	235,278		—	$	—	134,869	$	135	$	251,330	$	(244,181)	$	7,284
Adjustments
Balance, December 31, 2020	—	—		—	$	—	—	$	—	$	—	$	—	$	—
Net loss	—	—		—	—		—	—		—		(5,820)		(5,820)
Total Adjustments	—	—		—	$	—	—	$	—	$	—	$	(5,820)	$	(5,820)
As Restated
Balance, December 31, 2020	—	—		—	$	—	126,994	$	127	$	140,473	$	(221,499)	$	(80,899)


Equity based compensation	—	—	—	—	—	—		11,580		—				11,580
Issuance of Series A Preferred, net of fees	350	229,799	—	—	—	—		—		—				—
Issuance of common stock, net	—	—	—	—	7,875	8		104,756		—				104,764
Preferred cumulative dividends plus accretion	—	5,479	—	—	—	—		(5,479)		—				(5,479)
Net loss	—	—	—	—	—	—		—		(28,502)				(28,502)
Balance, September 30, 2021 - As Restated	350	235,278	—	—	134,869	$	—	$	251,330	$	(250,001)	$	—	$	1,464


	Three Months Ended March 31, 2021
(in thousands) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
Cash flows used in operating activities
Net income	$	2,887	$	1,689	$	4,576
Adjustments to reconcile net income to net cash used in operating activities:
Recovery of bad debts	(535)				(535)
Deferred tax benefit	(71)		(38)		(109)
Depreciation and amortization	6,481				6,481
Amortization of debt discount and issuance costs	3,586				3,586
Interest paid-in-kind	—				—
Equity-based compensation	7,911				7,911
Contingent consideration	148				148
Warranty provision	302				302

Changes in operating assets and liabilities					—
Accounts receivable	(2,692)		(2,308)		(5,000)
Inventories	(6,246)				(6,246)
Income tax receivables	13,003				13,003
Prepaid expenses and other	(3,216)				(3,216)
Accounts payable	(10,556)				(10,556)
Accounts payable - related party	—				—
Accrued expenses and other	5,134				5,134
Income tax payable	1,410		657		2,067
Lease liabilities	247				247
Deferred revenue	(59,941)		—		(59,941)
Net cash used in operating activities	(42,148)		—		(42,148)
Cash flows used in investing activities
Purchase of property, plant and equipment	(570)				(570)
Investment in equity security	(10,000)				(10,000)
Net cash used in investing activities	(10,570)		—		(10,570)
Cash flows used in financing activities
Proceeds from revolving credit facility	—
Principal payments on term loan facility	(30,000)				(30,000)

Debt issuance costs	(6,590)				(6,590)

Net cash used in financing activities	(36,590)		—		(36,590)
Net decrease in cash, cash equivalents and restricted cash	(89,308)		—		(89,308)
Cash, cash equivalents and restricted cash, beginning of period	108,441				108,441
Cash, cash equivalents, and restricted cash, end of period	$	19,133	$	—	$	19,133


Statement of Cash Flows
	Six Months Ended June 30,
(in thousands) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
Cash flows used in operating activities
Net income	$	2,870	$	(3,811)	$	(941)
Adjustments to reconcile net income to net cash used in operating activities:
Recovery of bad debts	(551)				(551)
Deferred tax benefit	1,358		(1,896)		(538)
Depreciation and amortization	12,964				12,964
Amortization of debt discount and issuance costs	5,118				5,118
Interest paid-in-kind	—				—
Equity-based compensation	9,467				9,467
Contingent consideration	135				135
Warranty provision	425				425
Provision for inventory obsolescence	1,236				1,236
Changes in operating assets and liabilities					—
Accounts receivable	(34,365)		3,972		(30,393)
Inventories	(20,443)				(20,443)
Income tax receivables	7,501		1,735		9,236
Prepaid expenses and other	826				826
Accounts payable	(1,378)				(1,378)
Accounts payable - related party	(1,622)				(1,622)
Accrued expenses and other	(10,541)				(10,541)
Income tax payable	(8,814)				(8,814)
Lease liabilities	68				68

Deferred revenue	(98,363)		—		(98,363)
Net cash used in operating activities	(134,109)		—		(134,109)
Cash flows used in investing activities
Purchase of property, plant and equipment	(1,200)				(1,200)
Investment in equity security	(11,975)		—		(11,975)
Net cash used in investing activities	(13,175)		—		(13,175)
Cash flows from financing activities
Proceeds from revolving credit facility	102,000				102,000
Principal payments on term loan facility	(31,075)				(31,075)
Payments on related party loans	—				—
Contingent consideration	(7,810)		—		(7,810)
Debt issuance costs	(6,590)		—		(6,590)

Net cash provided by financing activities	56,525		—		56,525
Net decrease in cash, cash equivalents and restricted cash	(90,759)		—		(90,759)


Cash, cash equivalents and restricted cash, beginning of period	108,441				108,441
Cash, cash equivalents, and restricted cash, end of period	$	17,682	$	—	$	17,682

Statement of Cash Flows


	Nine Months Ended September 30,
(in thousands) (unaudited)	As Previously Reported		Restatement Adjustments		As Restated
Cash flows used in operating activities
Net loss	$	(22,682)	$	(5,820)	$	(28,502)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Recovery of bad debts	(574)				(574)
Deferred tax benefit	(6,531)		(505)		(7,036)
Depreciation and amortization	19,454				19,454
Amortization of debt discount and issuance costs	13,653				13,653
Interest paid-in-kind	—				—
Equity-based compensation	11,706				11,706
Contingent consideration	1,071				1,071
Warranty provision	305				305
Provision for inventory obsolescence	654				654
Changes in operating assets and liabilities					—
Accounts receivable	(58,194)		7,354		(50,840)
Inventories	(55,321)				(55,321)
Income tax receivables	10,705		(1,029)		9,676
Prepaid expenses and other	(5,770)				(5,770)
Accounts payable	1,948				1,948
Accounts payable - related party	(1,622)				(1,622)
Accrued expenses and other	1,683				1,683
Income tax payable	(8,185)				(8,185)
Lease liabilities	337				337

Deferred revenue	(68,474)		—		(68,474)
Net cash used in operating activities	(165,837)		—		(165,837)
Cash flows used in investing activities
Purchase of property, plant and equipment	(2,252)				(2,252)
Investment in equity security	(11,975)				(11,975)
Net cash used in investing activities	(14,227)		—		(14,227)
Cash flows from financing activities
Proceeds from revolving credit facility	102,000				102,000
Principal payments on term loan facility	(132,150)				(132,150)
Proceeds from Series A issuance	224,987				224,987
Proceeds from common stock issuance	120,645				120,645
Series A equity issuance costs	(7,195)				(7,195)


Common stock issuance costs	(3,873)				(3,873)
Payments on revolving credit facility	(102,000)				(102,000)
Payments on related party loans	—				—
Contingent consideration	(7,810)				(7,810)
Deferred offering costs	—				—
Debt issuance costs	(6,590)		—		(6,590)
Net cash provided by financing activities	188,014		—		188,014
Net change in cash and cash equivalents	7,950		—		7,950
Cash and cash equivalents, beginning of period	108,441				108,441
Cash and cash equivalents, end of period	$	116,391	$	—	$	116,391

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events STI Acquisition On January 11, 2022 (the “Closing Date”), the Company completed the previously announced STI Acquisition, pursuant to that certain definitive agreement (the “Purchase Agreement”), dated as of November 10, 2021, by and among Array Tech, Inc, a wholly-owned subsidiary of the Company, Amixa Capital, S.L. and Aurica Trackers, S.L., each a company duly organized under the laws of the Kingdom of Spain, and Mr. Javier Reclusa Etayo. In accordance with the Purchase Agreement, the Company paid closing consideration to STI consisting of $410.5 million in cash (the “Cash Consideration”) and 13,894,800 shares of the Company’s common stock (the “Stock Consideration”). The fair value of the purchase consideration was $610.7 million and resulted in the Company owning 100% of the interests in STI. The Company is in the process of determining the acquisition assets and liabilities and the related accounting impact. The purchase price will be increased by the amount that is four times the audited Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) of the target less €47.0 million ($53.5 million at current exchange rates), such that the amount of contingent consideration is subject to a cap of €45.0 million ($52.0 million at current exchange rates). Subsequent to December 31, 2021, it was determined that the targets were not met. The acquisition of STI will provide the Company with an immediate presence in Brazil as well as Western Europe. Transaction expenses incurred in connection with the acquisition are estimated to be $5.3 million. Series A Redeemable Preferred Issuance In connection with the Stock Purchase Agreement and the Certificate of Designations governing the Series A Redeemable Perpetual Preferred Stock (see Note 11 - Redeemable Perpetual Preferred), on January 7, 2022, the Company issued and sold to the Purchasers 50,000 shares of Series A Redeemable Perpetual Preferred Stock and 1,125,000 shares of Common Stock in an Additional Closing for an aggregate purchase price of $49,376,125. Employee Stock Purchase Plan The Company’s Compensation Committee approved the Employee Stock Purchase Plan in December 2021. The Plan allows employees to purchase shares at 15% off the lower of the stock price at the beginning or ending of the six months window through payroll deductions. The plan is considered compensatory in nature and the Company will record stock compensation expense on the plan beginning in 2022.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Accounting and Presentation	Basis of Accounting and Presentation The accompanying consolidated financial statements were prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.
Recently Adopted Accounting Pronouncements and New Accounting Standards	Recently Adopted Accounting Pronouncements On January 1, 2021, the Company adopted Accounting Standards Update (“ASU”) No. 2016-02 (Topic 842) “Leases” which supersedes the lease recognition requirements in ASC Topic 840, “Leases”. Under ASU No. 2016-02, lessees are required to recognize assets and liabilities on the consolidated balance sheets for most leases and provide enhanced disclosures. For companies that are not emerging growth companies (“EGCs”), the ASU was effective for fiscal years beginning after December 15, 2018. For EGCs, the ASU is effective for fiscal years beginning after December 15, 2021. The Company early adopted the new standard using the modified retrospective method by recording a right-of-use asset of $13.2 million, short-term portion of lease liabilities of $6.3 million and long-term portion of lease liabilities of $7.2 million as of the effective date. Prior periods will not be restated and will continue to be reported under Topic 840 guidance in effect during those periods. The Company applied the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. The adoption did not have a material impact on its consolidated statements of operations or its consolidated statements of cash flows. See Note 15, Leases, for further information and disclosures related to the adoption of this standard. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU No. 2019-12”), which is intended to simplify various aspects of the accounting for income taxes. ASU No. 2019-12 removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. This standard is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company has adopted the pronouncement and it did not have a material impact on its consolidated financial statements and related disclosures. In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40). The amendments in this update simplifies accounting for certain convertible debt instruments by removing the separation models for convertible debt with a cash conversion feature or convertible instruments with a beneficial conversion feature. As a result, convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. Additionally, ASU 2020-06 requires the application of the if-converted method for calculating diluted earnings per share and the treasury stock method will be no longer be available for convertible debt instruments. The provisions of ASU 2020-06 are applicable for fiscal years beginning after December 15, 2021, with early adoption permitted no earlier than fiscal years beginning after December 15, 2020. The Company early adopted the new standard effective January 1, 2021 using the modified retrospective method. There was no impact on the Company's financial statements as of the adoption date. As further discussed in Note 10, "Convertible Debt," the Company issued $425 million principal amount of convertible senior notes on December 3, 2021, which have been accounted for in accordance with the provisions of ASU 2020-06. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses, which was subsequently amended by ASU No. 2018-19 and ASU No. 2019-10, requires the measurement of expected credit losses for financial instruments carried at amortized cost held at the reporting date based on historical experience, current conditions and reasonable forecasts. The updated guidance also amends the current other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists. The main objective of this ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The standard was adopted on January 1, 2021 as the Company lost it’s status as an Emerging Growth Company effective December 31, 2021 and therefore was required to adopt the standard for the year ending December 31, 2021. The adoption of this standard did not have an impact on consolidated financial statements. New Accounting Standards To be adopted In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities in accordance with Accounting Standards Codification Topic 606. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. While the Company is continuing to assess the timing of adoption and the potential impacts of ASU 2021-08, and continue to evaluate the impact that ASU 2021-08 will have, if any, on its consolidated financial statements.
Corporate Conversion and Stock Split	Corporate Conversion and Stock Split On October 14, 2020, prior to the issuance of any of our shares of common stock in our initial public offering (the “IPO”), we converted from a Delaware limited liability company to a Delaware corporation. In connection with the corporate conversion we converted all 1,000 of our outstanding member units into 100,000,000 shares of common stock and then completed a stock split of 1.19994-for-1. The corporate conversion and stock split representing 119,994,467 shares of common stock have been adjusted retroactively for the purposes of calculating basic and diluted earnings per share.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Array Technologies, Inc. and its Subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates include impairment of goodwill, impairment of long-lived assets, fair value of contingent consideration, Series A Redeemable Preferred Stock and the related future tranche, allowance for credit losses, reserve for excess or obsolete inventories, valuation of deferred tax assets and warranty reserve. Due to the COVID-19 pandemic, there has been and will continue to be uncertainty and disruption in the global economy and financial markets. Management has made estimates and assumptions taking into consideration certain possible impacts due to COVID-19. These estimates may change, as new events occur, and additional information is obtained. Actual results may differ from previously estimated amounts, and such differences may be material to the consolidated financial statements; however, management believes that these estimates and assumptions provide a reasonable basis for the fair presentation of the consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the period they occur.
Impact of COVID-19 Pandemic	Impact of COVID-19 Pandemic In December 2019, a novel strain of coronavirus, SARS-CoV-2, which causes coronavirus disease 2019, or COVID-19, surfaced in Wuhan, China. Since then, COVID-19 has spread to multiple countries, including the United States. On March 11, 2020, the World Health Organization declared COVID-19 a pandemic. Due to economic conditions our industry has seen rapid commodity price increases and strained logistics, causing us to experience temporary decreased margins and thus decreased cash from operations which has adversely impacted our business. In addition, due to global tightening of supply chain and strained logistics issues we have experienced an increase in our unbilled revenues and also in some instances incurred liquidated damages. We have taken, and continue to take, mitigating steps to overcome the economic challenges and, therefore, believe the impact to be temporary, but cannot be certain the timing of when we will achieve better margins. The Company believes it has sufficient liquidity and financing options available and expects to have sufficient liquidity to operate for the next 12 months. The Company expects to use cash generated from operations and if needed, can access funds from the Revolving Credit Facility. The Company also has $100 million in delayed draw ability under the Series A Redeemable Perpetual Preferred Stock future draw commitment, however this would increase the Company’s dividend obligations and outstanding common stock. The Revolving Credit Facility has $186.4 million of availability; however the Company may have limited ability to draw on the funds due to debt covenants. The Company has implemented adjustments to its operations designed to keep employees safe and comply with federal, state and local guidelines, including those regarding social distancing. The extent to which COVID-19 may further impact the Company’s business, results of operations, financial condition and cash flows will depend on future developments, which are highly uncertain and cannot be predicted with confidence. In response to COVID-19, the United States government has passed legislation and taken other actions to provide financial relief to companies and other organizations affected by the pandemic.
Cash, Cash Equivalents and Restricted Cash	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Accounts Receivable	Accounts Receivable The Company’s accounts receivable are due primarily from solar contractors across the United States and internationally. Credit is extended in the normal course of business based on evaluation of a customer’s financial condition and, generally, collateral is not required. Trade receivables consist of uncollateralized customer obligations due under normal trade terms requiring payment within 30-60 days of the invoice date. Management regularly reviews outstanding accounts receivable and provides for estimated credit losses through an estimate of expected credit losses valuation account. The allowance for credit losses is a valuation account that is deducted from a financial asset’s amortized cost to present the net amount we expect to collect from the asset. We estimate allowances for credit losses using relevant available information from both internal and external sources. We monitor the estimated credit losses associated with our trade accounts receivable and unbilled accounts receivable based primarily on our collection history and the delinquency status of amounts owed to us, which we determine based on the aging of such receivables. In evaluating the level of established reserves, management makes judgments regarding the customers’ ability to make required payments, economic events, and other factors. As the financial conditions of these customers change, circumstances develop, or additional information becomes available, adjustments to the valuation account may be required. When deemed uncollectible, the receivable is charged against the valuation account for credit losses or directly written off.Such retention amounts represent funds withheld by our customers until the products are installed by a third-party, arranged by the customer, and the project is declared operational. Retention amounts and length of retention periods may vary. All retention amounts outstanding as of December 31, 2021 are collectible within the next 12 months.
Inventories	InventoriesInventories consist of raw materials and finished goods. Inventories are stated at the lower of cost or estimated net realizable value using the weighted average method. Provisions are made to reduce excess or obsolete inventories to their estimated net realizable values.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment acquired in the acquisition of Array are recorded at fair value at the date of acquisition net of accumulated depreciation and amortization; all other property, plant and equipment are recorded at cost, net of accumulated depreciation and amortization. Improvements, betterments and replacements which significantly extend the life of an asset are capitalized. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the respective assets. Repair and maintenance costs are expensed as incurred. A gain or loss on the sale of property, plant and equipment is calculated as the difference between the cost of the asset disposed of, net of depreciation, and the sales proceeds received. A gain or loss on an asset disposal is recognized in the period that the sale occurs.
Impairment of Long-Lived Assets	Impairment of Long-Lived AssetsWhen events, circumstances or operating results indicate that the carrying values of long-lived assets might not be recoverable through future operations, the Company prepares projections of the undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the projections indicate that the recorded amounts are not expected to be recoverable, such amounts are reduced to estimated fair value. Fair value is estimated based upon internal evaluation of each asset that includes quantitative analyses of net revenue and cash flows, review of recent sales of similar assets and market responses based upon discussions in connection with offers received from potential buyers.
Goodwill	Goodwill Goodwill reflects the excess of the consideration transferred, including the fair value of any contingent consideration over the assigned fair values of the identifiable net assets acquired. Goodwill is not amortized, and is assigned to the reporting unit and tested for impairment at least on an annual basis. Goodwill is assessed using either a qualitative assessment or quantitative approach to determine whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount. The qualitative assessment evaluates factors including macroeconomic conditions, industry-specific and company-specific considerations, legal and regulatory environments, and historical performance. If the Company determines that is more likely than not that the fair value of a reporting unit is less than its carrying value, a quantitative assessment is performed. Otherwise, no further assessment is required. The quantitative approach compares the estimated fair value of the reporting unit to its carrying amount, including goodwill. Impairment is indicated if the estimated fair value or the reporting unit is less than the carrying amount of the reporting unit, and an impairment charge is recognized for the differential.
Amortizable and Other Intangible Assets	Amortizable and Other Intangible AssetsThe Company amortizes identifiable intangible assets consisting of developed technology, customer relationships, contractual backlog and internal-use software modifications because these assets have finite lives. The Company’s intangible assets with finite lives are amortized on a straight-line basis over the estimated useful lives. The basis of amortization approximates the pattern in which the assets are utilized, over their estimated useful lives.
Indefinite-Lived Intangible Assets	The Array Technologies trade name has been determined to have an indefinite life and, therefore, is not amortized but is subject to an annual impairment test or at any other time when impairment indicators exist. The Company completed its annual impairment test for its non-amortizable asset (Trade Name) by comparing the estimated fair value to the carrying value of such asset.
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs consist primarily of registration fees, filing fees, listing fees, specific legal and accounting costs, and transfer agent fees, which are direct and incremental fees related to the offerings. Deferred offering costs were offset against the proceeds.
Debt Discount and Financing Costs	Debt Discount and Financing CostsDebt discount and financing costs incurred to issue debt are deferred and amortized using the effective interest method as a component of interest expense over the life of the related debt agreement.
Revenue Recognition	Revenue Recognition Under ASC 606, Revenue from Contracts with Customers (“ASC 606”), the Company recognizes revenues from the sale of solar tracking systems and parts and determines its revenue recognition through the following steps (i) identification of the contract or contracts with a customer, (ii) identification of the performance obligations within the contract, (iii) determination of the transaction price, (iv) allocation of the transaction price to the performance obligations within the contract, and (v) recognition of revenue when, or as the performance obligation has been satisfied. Performance Obligations The majority of the Company’s contracts with customers are accounted for as one performance obligation, because the Company is integrating the solar tracking system components and related services as part of a single project. Certain contracts associated with customers using the federal investment tax credit (“ITC”) for solar energy projects and other standalone tracker component sales are accounted for as multiple performance obligations because the delivery of the components and other services specified in the contract do not represent a single integrated project. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation using its best estimate of the standalone selling price of each distinct good or service in the contract. The Company uses the expected cost-plus margin approach to estimate the standalone selling price of each performance obligation. In contracts with one performance obligation, the Company’s performance obligation is satisfied over-time as control is transferred to the customer by measuring the progress toward complete satisfaction of the performance obligation using an input (i.e., “cost to cost”) method. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenue recognized for the Company’s ITC related contracts and standalone system component sales are recorded at a point in time and recognized when obligations under the terms of the contract with our customer are satisfied. Generally, this occurs with the transfer of control of the asset, which is typically upon delivery to the customer in line with shipping terms. In certain situations, when product is still in our custody, and title and risk of loss has passed to the customer (known as bill-and-hold arrangement), revenue will be recognized when all the specific requirements for transfer of control under a bill-and-hold arrangement have been met. The Company had $168.9 million in contracts with customers for the sale of goods and services that contained bill-and-hold obligations such as storage, handling and other custodial duties. Any losses incurred on point-in-time projects are recognized as the goods are delivered. In assessing the recognition of revenue, the Company also evaluates whether two or more contracts should be combined and accounted for as one contract and if the combined or single contract should be accounted for as multiple performance obligations which could change the amount of revenue and profit (loss) recorded in a period. Contracts are often modified through change orders to account for changes in specifications or design, manner of performance, equipment, materials, scope of work, and/or the period of completion of the project. Although the Company evaluates each change order to determine whether such modification creates a separate performance obligation, the majority of change orders are for goods or services that are not distinct within the context of the original contract and, therefore, not treated as separate performance obligations but rather as a modification of the existing contract and performance obligation. We account for shipping and handling activities related to contracts with customers as costs to fulfill our promise to transfer the associated products. Accordingly, we record amounts billed for shipping and handling costs as a component of revenue, and classify such costs as a component of cost of revenue. Contract Estimates Accounting for contracts utilizing the cost-to-cost measure of progress is based on various assumptions to project the outcome of future events that can exceed a year. These assumptions include the cost and availability of materials. The Company reviews and updates its contract-related estimates on an ongoing basis and recognizes adjustments for any project specific facts and circumstances that could impact the measurement of the extent of progress, such as the total costs to complete the contracts, under the cumulative catch-up method. Under this method, the impact of the adjustment on profit recorded to date is recognized in the period the adjustment is identified. Revenue and profit in future periods of contract performance is recognized using the adjusted estimate. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, the Company recognizes the total loss in the period it is identified. At contract inception, any variable consideration such as liquidated damages are estimated based on probability of occurrence and then re-evaluated for probability at the end of the quarterly period. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled accounts receivable for goods delivered but not invoiced, and deferred revenue (contract liabilities) on the consolidated balance sheets. The majority of the Company’s contract amounts are billed as work progresses in accordance with agreed-upon contractual terms, which generally coincide with the shipment of one or more phases of the project. Billing sometimes occurs subsequent to revenue recognition, resulting in unbilled accounts receivable. The changes in unbilled accounts receivable and the corresponding amounts recorded in revenue relate to fluctuations in the timing and volume of billings for the Company’s revenue recognized over-time. As of December 31, 2021 and December 31, 2020, unbilled accounts receivable totaled $111.2 million and $18.1 million, respectively, are included within accounts receivable on the consolidated balance sheets on a contract-by-contract basis at the end of the reporting period. The Company also receives advances or deposits from its customers, before revenue is recognized, resulting in contract liabilities. The changes in contract liabilities (i.e. deferred revenue) relate to advanced orders and payments received by the Company and are the result of customers looking to take advantage of certain U.S. federal tax incentives set to decrease at the end of 2019 and 2020. Based on the terms of the tax incentives the customer must pay for the goods prior to December 31, 2019 and 2020, which accounts for the increase in the advanced orders and payments and the resulting deferred revenue at December 31, 2019 and 2020 and subsequent reduction for deliveries which occurred during the year ended December 31, 2020 and 2021. As of December 31, 2021 and December 31, 2020, contract liabilities consisting of deferred revenue were $99.6 million and $149.8 million, respectively and were recorded on a contract-by-contract basis at the end of each reporting period. During the years ended December 31, 2021 and 2020, the Company converted $149.8 million and $328.8 million deferred revenue to revenue, respectively, which represented 100% of the prior years deferred revenue balance. Remaining Performance Obligations As of December 31, 2021, the Company had $301.5 million of remaining performance obligations. The Company expects to recognize revenue on 100% of these performance obligations in the next twelve months.
Warranty Obligations	Warranty Obligations The Company offers an assurance type warranty for its products against manufacturer defects and does not contain service elements. For these assurance type warranties, a provision for estimated future costs related to warranty expense is recorded when they are probable and reasonably estimable, which is typically when products are delivered. This provision is based on historical information on the nature, frequency and average cost of claims for each product line. When little or no experience exists for an immature product line, the estimate is based on comparable product lines. These estimates are re-evaluated on an ongoing basis using best-available information and revisions to estimates are made as necessary.
Income Taxes	Income Taxes The Company provides for income taxes based on the provisions of FASB ASC Topic 740, Income Taxes, which, among other things, requires that recognition of deferred income taxes be measured by the provisions of enacted tax rates in effect at the date of the consolidated financial statements. A valuation allowance is provided to reduce deferred income tax assets if it is more likely than not that all, or some portion, of such deferred tax assets will not be recognized. Provision for estimated income taxes is based upon elements of income and expense reported in the consolidated statements of operations. The Company also files certain corporate state income tax returns. Generally, the Company is subject to examination by U.S. federal (or state or local) income tax authorities for three years from the filing of a tax return. The current provision for income taxes represents actual or estimated amounts payable on tax return filings each year. Deferred tax assets and liabilities are recorded for the estimated future tax effects of temporary differences between the tax basis of assets and liabilities and amounts reported in the accompanying consolidated balance sheets, and for operating loss and tax credit carryforwards. The change in deferred tax assets and liabilities for the period measures the deferred tax provision or benefit for the period. Effects of changes in enacted tax laws on deferred tax assets and liabilities are reflected as adjustments to the tax provision or benefit in the period of enactment. Adjustments for penalties and interest, if any, are also reflected in the current year tax provision or benefit. The Company determines whether uncertain tax positions are more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The Company recognizes interest and penalties related to unrecognized tax benefits within the interest expense line and other expense line, respectively, in the consolidated statements of operations. Accrued interest and penalties are included within the related liability lines in the consolidated balance sheets.
Equity-Based Compensation	Equity-Based CompensationThe Company recognizes equity-based compensation expense based on the equity award’s grant date fair value. The determination of the fair value of equity awards issued to employees of the Company is based upon the underlying share price and a number of assumptions, including volatility, performance period, risk-free interest rate and expected dividends. The Company accounts for forfeitures as they occur. The grant date fair value of each unit is amortized on a straight-line basis over the requisite service period.
Temporary Equity	Temporary Equity Equity instruments that are redeemable for cash or other assets are classified as temporary equity if the instrument is redeemable, at the option of the holder, at a fixed or determinable price on a fixed or determinable date or upon the occurrence of an event that is not solely within the control of the issuer. Redeemable equity instruments are initially carried at the fair value of the equity instrument at the issuance date, which is subsequently adjusted at each balance sheet date if the instrument is currently redeemable, or probable of becoming redeemable. The Series A Redeemable Perpetual Preferred Stock issued in connection with the Securities Purchase Agreement as described in Note 11 is classified as temporary equity in the accompanying consolidated financial statements. The Company elected the accreted redemption value method under which it accretes changes in redemption value over the period from the date of issuance of the Series A Redeemable Perpetual Preferred Stock to the earliest costless redemption date (the fifth anniversary) using the effective interest method. Such adjustments are included in preferred undeclared dividends and accretion on Series A Redeemable Perpetual Preferred Stock on the Company’s consolidated statements of changes in equity and treated similarly to a dividend on preferred stock for GAAP purposes.
Earnings per Share ("EPS")	Earnings per Share (“EPS”)Basic earnings per share, or EPS, is computed by dividing net income available to shareholders by the weighted average shares outstanding during the period. Diluted EPS takes into account the potential dilution that could occur if securities or other contracts to issue shares, such as stock options, unvested restricted stock, or convertible debt, were exercised and converted into shares. The convertible debt is not currently convertible. Diluted EPS is computed by dividing net income available to shareholders by the weighted average shares outstanding during the period, increased by the number of additional shares that would have been outstanding if the potential shares had been issued and were dilutive.
Credit Concentration	Credit ConcentrationFinancial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, and accounts receivable. The Company has no significant off balance sheet concentrations of credit risk. The Company maintains its cash with financial institutions that are believed to be of high credit quality and has not experienced any material losses relating to any cash.
Fair Value	Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company follows a fair value hierarchy which requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Three levels of inputs may be used to measure fair value, as follows: •Level 1 - Quoted prices in active markets for identical assets or liabilities. •Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. •Level 3 - Unobservable inputs that are supported by little or no market activity that are significant to the fair value of the assets or liabilities. Assets valued using Level 1 inputs are determined by quoted market prices derived from an active market and Level 2 inputs are based primarily on quoted prices for similar assets in active or inactive markets. Level 3 inputs are valued by management’s assumptions about the assumptions the market participants would utilize in pricing the asset. The fair values of the Company’s cash, accounts receivable, and accounts payable approximate their carrying values due to their short maturities. The carrying value of the Company’s notes payable, capped call, and related party loans approximates their fair values, as they are based on current market rates at which the Company could borrow funds with similar terms. The Company follows the provisions of FASB ASC Topic 820-10 for nonfinancial assets and liabilities measured at fair value on a non-recurring basis. As it relates to the Company, this applies to certain nonfinancial assets and liabilities acquired in business combinations and measurement of goodwill impairment and non-amortizable intangibles and is thereby measured at fair value. The Company has determined such fair value primarily by third-party valuations.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of allowance for credit loss

The following is the activity of the reserve for credit losses on accounts receivable which includes trade accounts receivable and unbilled accounts receivable (in thousands):


	December 31,
	2021
Beginning balance	$	663
Provision for credit losses	(303)
Collected	(130)
Written-off	(90)
Ending balance	$	140

The following is the activity of the allowance for doubtful accounts (in thousands):


	December 31,
	2020
Beginning balance	$	162
Provision for bad debts	847
Collected	(242)
Written-off	(104)
Ending balance	$	663

Inventories (Tables)

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Schedule of current inventory

Inventories consisted of the following (in thousands):


	December 31,
	2021		2020
Raw materials	$	85,470	$	39,051
Finished goods	127,598		85,833
Reserve for excess or obsolete inventory	(7,415)		(6,425)
Total	$	205,653	$	118,459

Schedule of inventory reserve

The following is the activity of the inventory reserve (in thousands):


	December 31,
	2021		2020
Beginning balance	$	(6,425)	$	(5,200)
Increases	(1,766)		(2,518)
Decreases	776		1,293
Ending balance	$	(7,415)	$	(6,425)

Property, Plant, and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Summary of property, plant and equipment

Property, plant and equipment consisted of the following (in thousands):


	Estimated Useful Life (Years)	December 31,
		2021		2020
Land	N/A	$	1,340	$	1,340
Buildings and land improvements	15-39	2,451		2,486
Manufacturing equipment	7	13,924		13,261
Furniture, fixtures and equipment	5-7	476		443
Vehicles	5	161		140
Hardware and software	3-5	1,683		887
Assets in progress	NA	1,880		—
Total		21,915		18,557
Less: accumulated depreciation		(11,223)		(8,783)
Property, plant and equipment, net		$	10,692	$	9,774

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of finite-lived intangible assets

Other intangible assets consisted of the following (in thousands):


	Estimated Useful Life (Years)	December 31,
		2021		2020
Amortizable:
Costs:
Developed technology	14	$	203,800	$	203,800
Customer relationship	10	89,500		89,500
Internal-use software modification	2.5	4,356		4,356
Total Amortizable Intangibles		297,656		297,656
Accumulated amortization:
Developed technology		79,790		65,233
Customer relationship		49,057		40,107
Internal-use software modification costs		4,356		4,356
Total Accumulated Amortization		133,203		109,696
Total Amortizable Intangibles, Net		164,453		187,960

Non-amortizable costs:
Trade name		10,300		10,300
Total Other Intangible Assets, Net		$	174,753	$	198,260

Schedule of indefinite-lived intangible assets

Other intangible assets consisted of the following (in thousands):


	Estimated Useful Life (Years)	December 31,
		2021		2020
Amortizable:
Costs:
Developed technology	14	$	203,800	$	203,800
Customer relationship	10	89,500		89,500
Internal-use software modification	2.5	4,356		4,356
Total Amortizable Intangibles		297,656		297,656
Accumulated amortization:
Developed technology		79,790		65,233
Customer relationship		49,057		40,107
Internal-use software modification costs		4,356		4,356
Total Accumulated Amortization		133,203		109,696
Total Amortizable Intangibles, Net		164,453		187,960

Non-amortizable costs:
Trade name		10,300		10,300
Total Other Intangible Assets, Net		$	174,753	$	198,260

Schedule of future annual amortization expense of amortizable intangible assets

Estimated future annual amortization expense for the above amortizable intangible assets for the remaining periods through December 31, as follows (in thousands):


	Amount
2022	$	23,507
2023	23,507
2024	23,507
2025	23,507
2026	23,507
Thereafter	46,918
	$	164,453

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense (benefit)

The provision for income taxes charged to operations consists of the following (in thousands):


	Year Ended December 31,
	2021		2020		2019
Current Expense:
Federal	$	(8)	$	17,248	$	1,709
State	(668)		4,196		803
Foreign	60		—		—
	(616)		21,444		2,512
Deferred Expense (Benefit):
Federal	(9,085)		(2,799)		20,576
State	(1,017)		60		1,746
	(10,102)		(2,739)		22,322
Total Income Tax Expense (Benefit)	$	(10,718)	$	18,705	$	24,834

Schedule of deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and liabilities were as follows (in thousands):


	December 31,
	2021		2020
Deferred Tax Assets:
Bad debts	$	32	$	156
Inventories	2,411		2,050
Accrued warranties	1,242		841
Accrued compensation	315		271
Accrued settlement	—		524

Net operating loss	1,944		506
Equity-based compensation	948		154
Lease liabilities	2,661		—
Premium on capped call	12,356		—
Interest expense carryforward	5,301		—
Other	275		239
Deferred Tax Assets	27,485		4,741
Valuation allowance	(222)		(208)
Deferred Tax Assets, net	27,263		4,533
Deferred Tax Liabilities:
Property, plant, and equipment	(1,083)		(1,043)
Intangible assets	(14,165)		(16,604)
ROU assets	(2,670)		—
Deferred Tax Liabilities	(17,918)		(17,647)
Deferred Tax Asset (Liability), net	$	9,345	$	(13,114)

Schedule of effective income tax rate reconciliation

A reconciliation of income tax expense computed at the federal statutory rate of 21% to actual income tax expense at the Company’s effective rate is as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Income tax rate reconciliation
Income tax expense (benefit) at U.S. statutory rate	$	(12,835)	$	16,333	$	13,562
State income taxes	(1,545)		3,375		2,049
Permanent differences:
Derecognition of tax assets from IRS examination	—		—		9,284
Equity-based compensation	1,542		852		168
Contingent consideration	567		5,553		134
Credits	(620)		(79)		(284)
Other nondeductible expenses	69		437		40
Effect of CARES Act	—		(6,608)		—
Foreign income benefit	—		(1,201)		(155)
Officer’s compensation	435		—		—
Transaction costs	950		—		—
Change in valuation allowance	14		—		(45)
Other	705		43		81
Total Income Tax Expense (Benefit)	$	(10,718)	$	18,705	$	24,834

Accrued Warranty Reserve (Tables)

12 Months Ended

Dec. 31, 2021

Guarantees and Product Warranties [Abstract]

Schedule of estimated accrued warranty reserve

The following table summarizes the activity related to the estimated accrued warranty reserve (in thousands):


	December 31,
	2021		2020
Beginning balance	$	3,049	$	2,592
Provision for warranties issued	1,064		1,054
Payments	(373)		(496)
Warranty expirations	(548)		(101)
Ending balance	$	3,192	$	3,049

Senior Secured Credit Facility (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of long-term debt instruments

Long term debt consisted of the following (in thousands):


	December 31,
	2021		2020
Term loan facility	$	326,775	$	460,000
Revolving credit facility	—		—
	326,775		460,000
Less discount and issuance costs	(23,291)		(31,717)
Long term debt, net of debt discount and financing costs	303,484		428,283
Less current portion of long-term debt	(4,300)		(4,313)
Long-term Senior Secured Credit Facility debt, net of current portion, debt discount and financing costs	$	299,184	$	423,970

Schedule of maturities of senior secured credit facility

Future maturities of the Senior Secured Credit Facility (in thousands):


	Amount
2022	$	4,300
2023	4,300
2024	4,300
2025	4,300
2026	4,300
Thereafter	305,275
	$	326,775

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

Convertible Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of convertible debt


	December 31,
	2021		2020
1% Senior unsecured convertible notes	$	425,000	$	—
Less: unamortized discount and issuance costs	(13,137)		—
1% Senior unsecured convertible notes, net (1)	$	411,863	$	—

(1) Effective interest rate for the Notes for the year ended December 31, 2021 was 1.5%.

Revenues (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue

The following table presents the Company’s revenue disaggregated by sales recorded over-time and sales recorded at a point in time (in thousands):


	Year Ended December 31,
	2021		2020		2019
Over-time Revenues	$	626,057	$	503,238	$	493,633
Point in time Revenues	227,261		369,424		154,266
Total Revenue	$	853,318	$	872,662	$	647,899

Contract Balances

Earnings (Loss) per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of earnings per share, basic and diluted

The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share amounts):


	Year Ended December 31,
	2021		2020		2019
Net income (loss)	$	(50,403)	$	59,073	39,745
Preferred dividends and accretion	(15,715)		—		—
Net income (loss) to common shareholders	(66,118)		59,073		39,745
Basic:
Weighted-average shares	129,984		121,467		119,994
Earnings (loss) per share	$	(0.51)	$	0.49	$	0.33
Diluted:
Weighted-average shares	129,984		121,467		119,994
Equity compensation dilutive securities	—		47		—
Weighted average dilutive shares	129,984		121,514		119,994
Earnings (loss) per share	$	(0.51)	$	0.49	$	0.33

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Undiscounted future expected payments under the TRA

As of December 31, 2021, the undiscounted future expected payments through December 31, under the TRA are as follows (in thousands):


	Amount
2022	$	1,773
2023	—
2024	3,533
2025	1,772
2026	1,774
Thereafter	11,532
	$	20,384

Summary of liability related to estimated contingent consideration

The following table summarizes the liability related to the estimated contingent consideration (in thousands):


	TRA		Earn-Out Liability		Contingent Consideration
Balance, December 31, 2018	$	17,168	$	442	$	17,610
IRS Settlement	(2,727)		—		(2,727)
Fair value adjustment	3,367		—		3,367
Balance, December 31, 2019	17,808		442		18,250
IRS Settlement	1,883		24,558		26,441
Fair value adjustment	—		(25,000)		(25,000)
Balance, December 31, 2020	19,691		—		19,691
Fair value adjustment	2,696		—		2,696
Payments	(7,810)		—		(7,810)
Balance, December 31, 2021	$	14,577	$	—	$	14,577

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of carrying values and estimated fair values of debt instruments

The carrying values and the estimated fair values of debt financial instruments as of December 31 are as follows:


	2021				2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
Convertible senior notes	$	411,863	$	410,771	$	—	$	—

Compensation Related Costs, Share Based Payments (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Disclosure of share-based compensation arrangements by share-based payment award

Activity under the 2020 Plan was as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
RSUs
Unvested, December 31, 2019	—	—
Granted	500,006	$	22.00
Vested	—	—
Forfeited	—	—
Unvested, December 31, 2020	500,006	$	22.00
Granted	661,924	$	23.17
Vested	(157,473)	$	22.00
Forfeited	(74,048)	$	27.51
Unvested, December 31, 2021	930,409	$	22.39

	Number of Shares	Weighted Average Grant Date Fair Value
PSUs
Unvested, December 31, 2020	—	—
Granted	177,472	$	28.25
Vested	—	—
Forfeited	(29,785)	30.74
Unvested, December 31, 2021	147,687	$	27.75

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Summary of balances as it related to leases

The following table summarizes the balances as it relates to leases at the end of the period (in thousands):


	Location on the consolidated balance sheet	December 31, 2021
ROU Asset	Other assets	$	11,245

Lease liability, current portion	Other current liabilities	$	5,909
Lease liability, long-term portion	Other long-term liabilities	5,359
Total lease liability		$	11,268

Schedule of operating lease expenses

The details of the Company’s operating leases are as follows (in thousands):


	Year Ended December 31, 2021
Operating lease expense	$	6,635
Variable lease expense	106
Short-term lease expense	—
Total lease expense	$	6,741

The Company’s weighted-average remaining lease-term and weighted-average discount rate are as follows:


	Year Ended December 31, 2021
Weighted average remaining lease-term	3.8 years
Weighted average discount rate	5	%

Supplemental cash flow and other information related to operating leases are as follows (in thousands):


	Year Ended December 31, 2021
Operating cash flows from operating leases	$	6,644
Non cash investing activities:
Lease liabilities arising from obtaining right-of-use assets	$	17,363

Schedule of operating lease liability maturity

The following table presents the maturities of lease liabilities as of December 31, 2021 (in thousands):


	Operating Leases
2022	$	4,213
2023	1,782
2024	1,782
2025	1,027
2026	1,023
Thereafter	3,197
Total lease payments	13,024
Less: Imputed lease interest	(1,756)
Total lease liabilities	$	11,268

The following table represents future minimum lease obligations under non-cancelable operating leases as of December 31, 2020 (in thousands):


	Operating Leases
2021	$	6,663
2022	6,073
2023	893
2024	791
2025	15
Thereafter	—
Total	$	14,435

Geographic Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Revenue from external customers by geographic areas

Revenues within geographic areas based upon Customers’ project location (in thousands):


	Year Ended December 31,
	2021		2020		2019
United States	$	826,639	$	805,070	$	563,157
Australia	5,509		45,216		51,531
Rest of the world	21,170		22,376		33,211
Total Revenue	$	853,318	$	872,662	$	647,899

Summary of Significant Accounting Policies - Narrative (Details)		1 Months Ended		3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Oct. 14, 2020 USD ($) shares	Aug. 31, 2021 USD ($)	Feb. 28, 2021 USD ($)	Sep. 30, 2021 shares	Jun. 30, 2021 shares	Mar. 31, 2021 USD ($) shares	Jun. 30, 2021 USD ($) shares	Sep. 30, 2021 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($) shares	Feb. 25, 2021 USD ($)	Jan. 01, 2021 USD ($)
Class of Stock [Line Items]
ROU Asset									$ 11,245,000
Lease liability, current portion									5,909,000
Lease liability, long-term portion									$ 5,359,000
Stock split conversion ratio	1.19994
Basic (in shares) \| shares	119,994,467			130,955,000	126,994,000	126,994,000	126,994,000	128,315,000	129,984,000	121,467,000	119,994,000
Diluted (in shares) \| shares	119,994,467			130,955,000	126,994,000	127,298,000	127,203,000	128,315,000	129,984,000	121,514,000	119,994,000
Allowance for doubtful accounts									$ 100,000	$ 700,000
Contract assets									111,200,000	18,100,000
Amounts retained by project owners under contracts									13,500,000	4,100,000
Impairment of long lived assets									0	0	$ 0
Impairment charge recognized									0	0	0
Amortization of debt discount and issuance costs						$ 3,586,000	$ 5,118,000	$ 13,653,000	15,036,000	3,366,000	$ 3,968,000
Write off of deferred debt issuance cost		$ 9,600,000	$ 9,600,000
Revenue, bill and hold performance obligation, amount									168,900,000
Contract with customer, liability									99,600,000	149,800,000
Deferred revenue recognized									149,800,000	$ 328,800,000
Percentage of deferred revenue recognized										100.00%
Remaining performance obligation									$ 301,500,000
Percentage of performance obligation to be recognized									100.00%
Cash that is uninsured and uncollateralized									$ 367,200,000	$ 108,200,000
Series A Redeemable Perpetual Preferred Stock
Class of Stock [Line Items]
Maximum borrowing capacity									100,000,000
Revolving credit facility
Class of Stock [Line Items]
Maximum borrowing capacity	$ 150,000,000											$ 150,000,000
Available borrowing capacity									186,400,000	$ 103,400,000
Convertible Debt
Class of Stock [Line Items]
Senior secured promissory note									$ 425,000,000
Accounting Standards Update 2016-02
Class of Stock [Line Items]
ROU Asset													$ 13,200,000
Lease liability, current portion													6,300,000
Lease liability, long-term portion													$ 7,200,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-12-31
Class of Stock [Line Items]
Remaining performance obligation, period									12 months
Largest Customer \| Revenue Benchmark \| Customer Concentration Risk
Class of Stock [Line Items]
Concentration risk percentage									12.60%	11.20%	17.20%
Largest Customer \| Trade Accounts Receivable \| Customer Concentration Risk
Class of Stock [Line Items]
Concentration risk percentage									17.60%	0.10%
Five Largest Customers \| Revenue Benchmark \| Customer Concentration Risk
Class of Stock [Line Items]
Concentration risk percentage									46.00%	40.90%	50.10%
Five Largest Customers \| Trade Accounts Receivable \| Customer Concentration Risk
Class of Stock [Line Items]
Concentration risk percentage									44.60%	20.90%
Two Customers \| Revenue Benchmark \| Customer Concentration Risk
Class of Stock [Line Items]
Concentration risk percentage									22.70%	21.50%	28.70%
Member units
Class of Stock [Line Items]
Number of shares converted \| shares	1,000
Common Stock
Class of Stock [Line Items]
Number of shares issued upon conversion \| shares	100,000,000

Summary of Significant Accounting Policies - Schedule of allowance for credit loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 663	$ 162
Provision for credit losses	(303)	847
Collected	(130)	(242)
Written-off	(90)	(104)
Ending balance	$ 140	$ 663

Inventories - Schedule of Current Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 85,470				$ 39,051
Finished goods	127,598				85,833
Reserve for excess or obsolete inventory	(7,415)				(6,425)	$ (5,200)
Inventories, net	$ 205,653	$ 173,126	$ 137,666	$ 124,705	$ 118,459

Inventories - Schedule of Inventory Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Inventory Valuation Reserves [Roll Forward]
Inventory valuation reserves, beginning balance	$ 6,425	$ 5,200
Increases	(1,766)	(2,518)
Decreases	776	1,293
Inventory valuation reserves, ending balance	$ 7,415	$ 6,425

Property, Plant, and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 21,915				$ 18,557
Less: accumulated depreciation	(11,223)				(8,783)
Property, plant and equipment, net	10,692	$ 10,202	$ 9,763	$ 9,740	9,774
Land
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	1,340				1,340
Buildings and land improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 2,451				2,486
Buildings and land improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	15 years
Buildings and land improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	39 years
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	7 years
Property, plant, and equipment, gross	$ 13,924				13,261
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 476				443
Furniture, fixtures and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	5 years
Furniture, fixtures and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	7 years
Vehicles
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	5 years
Property, plant, and equipment, gross	$ 161				140
Hardware and software
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 1,683				887
Hardware and software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	3 years
Hardware and software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (Years)	5 years
Assets in progress
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 1,880				$ 0

Property, Plant, and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2.4	$ 2.2	$ 2.1
Depreciation allocated to cost of revenue	2.0	2.0	1.8
Depreciation included in depreciation and amortization	$ 0.4	$ 0.2	$ 0.3

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jul. 08, 2016
Goodwill [Line Items]
Goodwill	$ 69,727	$ 69,727		$ 69,727	$ 69,727	$ 69,727
Accumulated impairment	51,900	51,900
Amortization expense related to intangible assets	$ 23,500	$ 25,300	$ 25,200
Array
Goodwill [Line Items]
Goodwill							$ 121,600

Goodwill and Other Intangible Assets - Schedule of other intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Finite-Lived Intangible Assets [Line Items]
Total Amortizable Intangibles	$ 297,656				$ 297,656
Total Accumulated Amortization	133,203				109,696
Total Amortizable Intangibles, Net	164,453				187,960
Indefinite-lived Intangible Assets [Line Items]
Other intangible assets, net	174,753	$ 180,630	$ 186,507	$ 192,383	198,260
Trade name
Indefinite-lived Intangible Assets [Line Items]
Non-amortizable costs	$ 10,300				10,300
Developed technology
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	14 years
Total Amortizable Intangibles	$ 203,800				203,800
Total Accumulated Amortization	$ 79,790				65,233
Total Amortizable Intangibles, Net						$ 188,000	$ 210,000
Customer relationship
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	10 years
Total Amortizable Intangibles	$ 89,500				89,500
Total Accumulated Amortization	$ 49,057				40,107
Internal-use software modification
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	2 years 6 months
Total Amortizable Intangibles	$ 4,356				4,356
Total Accumulated Amortization	$ 4,356				$ 4,356

Goodwill and Other Intangible Assets - Schedule of future annual amortization expense of amortizable intangible assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 23,507
2023	23,507
2024	23,507
2025	23,507
2026	23,507
Thereafter	46,918
Total Amortizable Intangibles, Net	$ 164,453	$ 187,960

Investment in Equity Securities (Details) - USD ($)	1 Months Ended		12 Months Ended
Investment in Equity Securities (Details) - USD ($)	Apr. 30, 2021	Feb. 28, 2021	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investment in equity securities	$ 2,000,000	$ 10,000,000
Balance of investment in equity securities			$ 12,000,000
Impairment recorded			$ 0

Income Taxes - Schedule of Income Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current Expense:
Federal						$ (8)	$ 17,248	$ 1,709
State						(668)	4,196	803
Foreign						60	0	0
Current income tax provision						(616)	21,444	2,512
Deferred Expense (Benefit):
Federal						(9,085)	(2,799)	20,576
State						(1,017)	60	1,746
Deferred income tax provision (benefit)			$ (109)	$ (538)	$ (7,036)	(10,102)	(2,739)	22,322
Total Income Tax Expense (Benefit)	$ (5,361)	$ (1,830)	$ 1,698	$ (132)	$ (5,493)	$ (10,718)	$ 18,705	$ 24,834

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred Tax Assets (Liabilities)
Bad debts	$ 32	$ 156
Inventories	2,411	2,050
Accrued warranties	1,242	841
Accrued compensation	315	271
Accrued settlement	0	524
Net operating loss	1,944	506
Equity-based compensation	948	154
Lease liabilities	2,661	0
Premium on capped call	12,356	0
Interest expense carryforward	5,301	0
Other	275	239
Deferred Tax Assets	27,485	4,741
Valuation allowance	(222)	(208)
Deferred Tax Assets, net	27,263	4,533
Property, plant, and equipment	(1,083)	(1,043)
Intangible assets	(14,165)	(16,604)
ROU assets	(2,670)	0
Deferred Tax Liabilities	(17,918)	(17,647)
Deferred tax assets, net	$ 9,345
Deferred tax liabilities, net		$ (13,114)

Income Taxes - Effective Income Tax Rate Reconciliation Amount (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefit) at U.S. statutory rate						$ (12,835)	$ 16,333	$ 13,562
State income taxes						(1,545)	3,375	2,049
Derecognition of tax assets from IRS examination						0	0	9,284
Equity-based compensation						1,542	852	168
Contingent consideration						567	5,553	134
Credits						(620)	(79)	(284)
Other nondeductible expenses						69	437	40
Effect of CARES Act						0	(6,608)	0
Foreign income benefit						0	(1,201)	(155)
Officer’s compensation						435	0	0
Transaction costs						950	0	0
Change in valuation allowance						14	0	(45)
Other						705	43	81
Total Income Tax Expense (Benefit)	$ (5,361)	$ (1,830)	$ 1,698	$ (132)	$ (5,493)	$ (10,718)	$ 18,705	$ 24,834

Income Taxes (Details) - USD ($)	12 Months Ended
Income Taxes (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Income Tax Examination [Line Items]
Valuation allowance, deferred tax asset, increase, amount	$ 14,000	$ 0
Unrecognized tax benefits	0	0
Income tax benefit		10,700,000
Reduction in developed technology value for federal income tax purposes	164,453,000	$ 187,960,000
Reduction of NOL carryforward			$ 2,800,000
Increase in deferred tax liability from income tax examination			4,600,000
Write off of deferred tax asset related to TRA			4,700,000
Domestic Tax Authority
Income Tax Examination [Line Items]
Operating loss carryforwards	5,100,000
State and Local Jurisdiction
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 9,700,000
Developed technology
Income Tax Examination [Line Items]
Reduction in developed technology value for federal income tax purposes			$ 188,000,000	$ 210,000,000

Accrued Warranty Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
Accrued Warranty Reserve (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 3,049	$ 2,592
Provision for warranties issued	1,064	1,054
Payments	(373)	(496)
Warranty expirations	(548)	(101)
Ending balance	$ 3,192	$ 3,049

Senior Secured Credit Facility - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt, balance	$ 326,775				$ 460,000
Less discount and issuance costs	(23,291)				(31,717)
Long term debt, net of debt discount and financing costs	303,484				428,283
Less current portion of long-term debt	(4,300)	$ (4,300)	$ (4,300)	$ (4,300)	(4,313)
Long-term debt, net of current portion, debt discount and issuance costs	711,056	$ 299,212	$ 493,945	$ 391,682	423,970
Revolving credit facility
Debt Instrument [Line Items]
Long-term debt, balance	0				0
Long-term debt, net of current portion, debt discount and issuance costs	299,184				423,970
Term loan facility
Debt Instrument [Line Items]
Long-term debt, balance	$ 326,775				$ 460,000

Senior Secured Credit Facility - Narrative (Details) - USD ($)				1 Months Ended		12 Months Ended
	Feb. 23, 2021	Feb. 22, 2021	Oct. 14, 2020	Aug. 31, 2021	Feb. 28, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Feb. 26, 2021	Feb. 25, 2021
Debt Instrument [Line Items]
Long-term debt, balance						$ 326,775,000	$ 460,000,000
Write off of deferred debt issuance cost				$ 9,600,000	$ 9,600,000
Debt discount and issuance costs						23,291,000	31,717,000
Interest expense related to long term debt						35,700,000	11,300,000	$ 11,500,000
Term loan facility
Debt Instrument [Line Items]
Long-term debt, balance						326,775,000	460,000,000
Senior Secured Credit Facility \| Base Rate
Debt Instrument [Line Items]
Minimum annual variable rate	325	400
Senior Secured Credit Facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Monthly basis spread on variable rate	5000.00%	10000.00%
Term loan facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 575,000,000
Debt instrument term			7 years
Interest rate applicable margin	3.75%
Long-term debt, balance						326,800,000	$ 460,000,000
Fees paid on issuance of convertible notes						130,000,000
Write off of deferred debt issuance cost						$ 9,600,000
Effective interest rate						2.75%	4.00%
Debt discount and issuance costs						$ 23,300,000	$ 31,700,000
Debt issuance costs and discounts, amortization rate						490.00%	6.08%
Term loan facility \| Revolving Credit Facility, First Amendment
Debt Instrument [Line Items]
Interest rate applicable margin	5.00%
Term loan facility \| Base Rate
Debt Instrument [Line Items]
Minimum annual variable rate			0.0300
Interest rate applicable margin						1.00%
Minimum allowable variable rate			0.0150
Term loan facility \| Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Interest rate applicable margin			0.50%
Term loan facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Monthly basis spread on variable rate			1.00%
Term loan facility \| Eurodollar
Debt Instrument [Line Items]
Minimum annual variable rate			0.0400
Minimum allowable variable rate			0.0100
Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 150,000,000							$ 150,000,000
Debt instrument term			5 years
Long-term debt, balance						$ 0	$ 0
Available borrowing capacity						186,400,000	103,400,000
Annual amortization rate			1.00%
Prepayment premium			1.00%
Springing financial maintenance covenant			35.00%
Net leverage ratio			7.10
Revolving credit facility \| Revolving Credit Facility, Second Amendment
Debt Instrument [Line Items]
Maximum borrowing capacity									$ 200,000,000
Revolving credit facility \| Base Rate
Debt Instrument [Line Items]
Minimum annual variable rate			0.0225
Minimum allowable variable rate			0.0150
Revolving credit facility \| Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Interest rate applicable margin			0.50%
Revolving credit facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Monthly basis spread on variable rate			1.00%
Revolving credit facility \| Eurodollar
Debt Instrument [Line Items]
Minimum annual variable rate			0.0325
Minimum allowable variable rate			0.0050
Standby Letters of Credit
Debt Instrument [Line Items]
Letters of credit outstanding						$ 13,600,000	$ 46,600,000

Senior Secured Credit Facility - Schedule of Maturities of Senior Secured Credit Facility (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 4,300
2023	4,300
2024	4,300
2025	4,300
2026	4,300
Thereafter	305,275
Total carrying value of debt	$ 326,775	$ 460,000

Convertible Debt - Summary of Convertible Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Less: unamortized discount and issuance costs	$ 23,291	$ 31,717
Convertible Debt
Debt Instrument [Line Items]
1% Senior unsecured convertible notes	425,000	0
Less: unamortized discount and issuance costs	(13,137)	0
1% Senior unsecured convertible notes, net (1)	$ 411,863	$ 0
Effective interest rate	1.50%

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Convertible Debt (Details)				3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
Convertible Debt (Details)	Dec. 09, 2021 USD ($)	Dec. 03, 2021 USD ($)	Nov. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) d $ / shares shares	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Interest expense				$ 13,109,000	$ 6,651,000	$ 9,009,000	$ 15,660,000	$ 28,769,000	$ 35,475,000	$ 15,129,000	$ 18,797,000
Amortization of debt discount and issuance costs						$ 3,586,000	$ 5,118,000	$ 13,653,000	15,036,000	$ 3,366,000	$ 3,968,000
Convertible Debt
Debt Instrument [Line Items]
Senior secured promissory note									$ 425,000,000
Convertible Debt
Debt Instrument [Line Items]
Effective interest rate									1.50%
Threshold percentage of stock price trigger									130.00%
Convertible Senior Notes due 2028
Debt Instrument [Line Items]
Senior secured promissory note									$ 1,000
Convertible Senior Notes due 2028 \| Convertible Debt
Debt Instrument [Line Items]
Threshold percentage of stock price trigger									98.00%
Convertible Senior Notes due 2028 \| Convertible Debt
Debt Instrument [Line Items]
Senior secured promissory note	$ 50,000,000	$ 375,000,000							$ 100,000,000
Effective interest rate	1.00%	1.00%							1.50%
Proceeds from convertible debt	$ 48,600,000	$ 364,700,000
Convertible note, interest rate, effective percentage discount	2.75%	2.75%
Convertible note, annual interest rate									1.00%
Convertible note, trading days (in days) \| d									20
Convertible note, consecutive trading days (in days) \| d									30
Conversion price percentage									100.00%
Conversion price percentage, fundamental change repurchase									100.00%
Interest expense									$ 400,000
Contractual interest expense									300,000
Amortization of debt discount and issuance costs									$ 100,000
Convertible Senior Notes due 2028 \| Convertible Debt \| Common Stock
Debt Instrument [Line Items]
Conversion price percentage									32.50%
Conversion of stock, shares converted per dollar (in shares) \| shares									41.9054
Convertible notes payable									$ 1,000
Convertible note, conversion price (in dollar per share) \| $ / shares									$ 23.86
Convertible Note Capped Call Transactions
Debt Instrument [Line Items]
Derivative, strike price (in dollars per share) \| $ / shares			$ 23.8633
Derivative, cap price (in dollars per share) \| $ / shares			$ 36.0200
Debt conversion, converted Instrument, shares issued (in shares) \| shares			17,800,000
Fees paid on issuance of convertible notes			$ 52,900,000
Deferred tax assets									$ 12,400,000

Redeemable Perpetual Preferred (Details)				12 Months Ended
Redeemable Perpetual Preferred (Details)	Dec. 31, 2021 USD ($) $ / shares	Sep. 27, 2021 USD ($) shares	Aug. 10, 2021 USD ($) representative vote $ / shares shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2019 USD ($)	Sep. 30, 2021 USD ($) $ / shares	Jun. 30, 2021 USD ($) $ / shares	Mar. 31, 2021 USD ($) $ / shares	Oct. 14, 2020 $ / shares
Temporary Equity [Line Items]
Temporary equity, par value (in dollars per share) \| $ / shares	$ 0.001			$ 0.001	$ 0.001		$ 0.001
Common stock, par value (in dollars per share) \| $ / shares	$ 0.001			$ 0.001	$ 0.001		$ 0.001	$ 0.001	$ 0.001	$ 0.001
Repayment of long term line of credit				$ 0	$ 57,702,000	$ 25,000,000
Temporary equity, liquidation preference	$ 350,000,000			350,000,000	0		$ 352,800,000
Temporary equity, carrying amount, attributable to parent	237,462,000			237,462,000	0		235,278,000	$ 0
Common stock, value, issued	135,000			135,000	127,000		135,000	127,000	$ 127,000
Total stockholders’ deficit	(69,205,000)			(69,205,000)	$ (80,899,000)	$ 305,151,000	$ 1,464,000	$ (72,420,000)	$ (68,426,000)
Percentage of variable weighted average price of temporary equity			95.00%
Preferred cumulative dividends	8,200,000			$ 8,226,000
Payments of dividends	$ 8,100,000
Temporary equity, amortization of discount, period			5 years
Dividend rate, percentage				5.75%
Percentage of initial liquidation preference			130.00%
Initial liquidation preference (in dollars per share) \| $ / shares			$ 1,000
Temporary equity, redemption amount			$ 200,000,000
Number of votes per temporary equity share \| vote			1
Maximum leverage ratio			8.5
Anniversary Date One
Temporary Equity [Line Items]
Purchase commitment, percentage			0.00%
Anniversary Date Two
Temporary Equity [Line Items]
Purchase commitment, percentage			1.50%
Anniversary Date Three
Temporary Equity [Line Items]
Purchase commitment, percentage			3.00%
Series A Redeemable Perpetual Preferred Stock
Temporary Equity [Line Items]
Temporary equity, amortization of discount			$ 120,200,000
Temporary equity, accretion of interest				$ 7,400,000
Maximum leverage ratio			8.5
Series A Redeemable Perpetual Preferred Stock \| Cash Regular Dividend Rate
Temporary Equity [Line Items]
Dividend rate, percentage			5.75%
Temporary equity dividend rate spread			20000.00%
Percent of the amount of default accrued dividends to be paid			100.00%
Series A Redeemable Perpetual Preferred Stock \| Cash Regular Dividend Rate \| Fifth, Sixth, and Seventh Anniversaries
Temporary Equity [Line Items]
Temporary equity dividend rate spread			5000.00%
Series A Redeemable Perpetual Preferred Stock \| Cash Regular Dividend Rate \| Eighth, Ninth, and Tenth Anniversaries
Temporary Equity [Line Items]
Temporary equity dividend rate spread			10000.00%
Series A Redeemable Perpetual Preferred Stock \| Accrued Regular Dividend Rate
Temporary Equity [Line Items]
Dividend rate, percentage			6.25%
Securities Purchase Agreement
Temporary Equity [Line Items]
Net proceeds from sale of series A perpetual preferred stock			$ 346,000,000
Repayment of long term line of credit			$ 100,000,000
Proceeds from Series A issuance		$ 15,400,000
Temporary equity, transaction cost		15,400,000
Temporary equity, carrying amount, attributable to parent		229,800,000
Common stock, value, issued		105,400,000
Total stockholders’ deficit		12,400,000
Derivative instrument, prepaid forward contract		$ 11,700,000
Securities Purchase Agreement \| Series A Redeemable Perpetual Preferred Stock
Temporary Equity [Line Items]
Stock issued (in shares) \| shares			350,000
Temporary equity, par value (in dollars per share) \| $ / shares			$ 0.001
Repayment of long term line of credit			$ 102,000,000
Temporary equity, liquidation preference			$ 100,000,000
Securities Purchase Agreement \| Common Stock
Temporary Equity [Line Items]
Stock issued (in shares) \| shares			7,098,765
Common stock, par value (in dollars per share) \| $ / shares			$ 0.001
Securities Purchase Agreement, Expiry or Termination \| Common Stock \| BCP Helios Aggregator L.P.
Temporary Equity [Line Items]
Stock issued (in shares) \| shares		776,235
Net proceeds from sale of series A perpetual preferred stock		$ 776
Securities Purchase Agreement, Voting and Consent Rights
Temporary Equity [Line Items]
Number of members eligible to be designated to board of directors \| representative			1
Number of non-voting representatives designated to board of directors \| representative			3
Securities Purchase Agreement, Additional Closings
Temporary Equity [Line Items]
Net proceeds from sale of series A perpetual preferred stock			$ 148,000,000
Securities Purchase Agreement, Additional Closings \| Series A Redeemable Perpetual Preferred Stock
Temporary Equity [Line Items]
Stock issued (in shares) \| shares			150,000
Securities Purchase Agreement, Additional Closings \| Common Stock
Temporary Equity [Line Items]
Stock issued (in shares) \| shares			3,375,000
Securities Purchase Agreement, Additional Closings, Certain Pricing Adjustments \| Common Stock
Temporary Equity [Line Items]
Stock issued (in shares) \| shares			6,100,000

Related Party Loan (Details) - Senior Secured Loan - Unit holder of Parent - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Interest expense	$ 3.8	$ 7.3
Current portion of related party loans		$ 41.8

Common and Preferred Stock (Details) - $ / shares	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Oct. 14, 2020
Equity [Abstract]
Authorized capital stock (in shares)	1,000,000,000	1,000,000,000	1,000,000,000	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Authorized preferred stock (in shares )	4,500,000	4,500,000	5,000,000	5,000,000	4,500,000	5,000,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
Revenues (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 188,686	$ 196,516	$ 248,240	$ 444,756	$ 633,442	$ 853,318	$ 872,662	$ 647,899
Over-time Revenues
Disaggregation of Revenue [Line Items]
Revenue						626,057	503,238	493,633
Point in time Revenues
Disaggregation of Revenue [Line Items]
Revenue						$ 227,261	$ 369,424	$ 154,266

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Earnings (Loss) per Share - Schedule of earnings per share, basic and diluted (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Oct. 14, 2020	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income (loss)		$ (27,561)	$ (5,517)	$ 4,576	$ (941)	$ (28,502)	$ (50,403)	$ 59,073	$ 39,745
Preferred dividends and accretion		(5,479)				(5,479)	(15,715)	0	0
Net income (loss) to common shareholders		$ (33,040)				$ (33,981)	$ (66,118)	$ 59,073	$ 39,745
Basic:
Weighted average number of shares	119,994,467	130,955,000	126,994,000	126,994,000	126,994,000	128,315,000	129,984,000	121,467,000	119,994,000
Earnings (loss) per share (basic)		$ (0.25)	$ (0.04)	$ 0.04	$ (0.01)	$ (0.26)	$ (0.51)	$ 0.49	$ 0.33
Diluted:
Equity compensation dilutive securities (in shares)							0	47,000	0
Weighted average dilutive shares	119,994,467	130,955,000	126,994,000	127,298,000	127,203,000	128,315,000	129,984,000	121,514,000	119,994,000
Earnings (loss) per share (in dollars per share)		$ (0.25)	$ (0.04)	$ 0.04	$ (0.01)	$ (0.26)	$ (0.51)	$ 0.49	$ 0.33

Earnings (Loss) per Share - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Equity compensation anti-dilutive securities (in shares)	227,253
Equity grants \| Class B units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares not included in the calculation of basic or diluted EPS	26,671,594	26,671,594
Equity grants \| Class C Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares not included in the calculation of basic or diluted EPS	1,000	1,000

Commitments and Contingencies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition, Contingent Consideration [Line Items]
Business combination, contingent consideration, liability	$ 14,577,000	$ 19,691,000	$ 18,250,000	$ 17,610,000
Surety Bond
Business Acquisition, Contingent Consideration [Line Items]
Maximum potential payment obligation	160,400,000
Array \| TRA
Business Acquisition, Contingent Consideration [Line Items]
Business combination, contingent consideration, liability	$ 14,577,000	19,691,000	17,808,000	17,168,000
Tax Receivable Agreement, payment term	125 days
Array \| Earn-Out Liability
Business Acquisition, Contingent Consideration [Line Items]
Business combination, contingent consideration, liability	$ 0	$ 0	$ 442,000	$ 442,000
Maximum aggregate earn-out consideration	$ 25,000,000

Commitments and Contingencies - Undiscounted future expected payments under the TRA (Details) - Array - TRA $ in Thousands	Dec. 31, 2021 USD ($)
Other Commitments [Line Items]
2022	$ 1,773
2023	0
2024	3,533
2025	1,772
2026	1,774
Thereafter	11,532
Total	$ 20,384

Commitments and Contingencies - Summary of liability related to estimated contingent consideration (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Combination, Contingent Consideration Arrangements, Change In Amount Of Contingent Consideration [Roll Forward]
Beginning balance			$ 19,691	$ 19,691	$ 19,691	$ 19,691	$ 18,250	$ 17,610
IRS Settlement								(2,727)
Fair value adjustment								3,367
IRS Settlement	$ 936	$ (13)	148	135	1,071	2,696	26,441	640
Fair value adjustment						0	(25,000)	0
Payments				7,810	7,810	7,810	0	0
Ending balance						14,577	19,691	18,250
Array \| TRA
Business Combination, Contingent Consideration Arrangements, Change In Amount Of Contingent Consideration [Roll Forward]
Beginning balance			19,691	19,691	19,691	19,691	17,808	17,168
IRS Settlement								(2,727)
Fair value adjustment								3,367
IRS Settlement						2,696	1,883
Fair value adjustment							0
Payments						7,810
Ending balance						14,577	19,691	17,808
Array \| Earn-Out Liability
Business Combination, Contingent Consideration Arrangements, Change In Amount Of Contingent Consideration [Roll Forward]
Beginning balance			$ 0	$ 0	$ 0	0	442	442
IRS Settlement								0
Fair value adjustment								0
IRS Settlement						0	24,558
Fair value adjustment							(25,000)
Payments						0
Ending balance						$ 0	$ 0	$ 442

Fair Value of Financial Instruments - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - Convertible Debt - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Long term debt, net of debt discount and financing costs	$ 411,863	$ 0
Convertible senior notes, fair value	$ 410,771	$ 0

- Definition

+ References + Details

Equity Based Compensation (Details) - USD ($) $ in Millions					12 Months Ended
Equity Based Compensation (Details) - USD ($) $ in Millions	Mar. 23, 2021	May 19, 2020	Mar. 28, 2020	Nov. 19, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Oct. 14, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility rate					66.00%
Risk free interest rate					0.28%
Forfeitures in period (in shares)					103,833	0	0
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized shares								6,683,919
Class B units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity based compensation	$ 8.9
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)					661,924	500,006
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)					177,472
Vesting period					3 years
Equity grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity based compensation					$ 16.3	$ 4.8	$ 0.8
Equity grants \| Class B units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)		4,344,941		22,326,653
Unrecognized compensation costs					$ 16.8
Unrecognized compensation costs, period of recognition					2 years 1 month 6 days
Equity grants \| Class C Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)			1,000

Equity Based Compensation - Schedule of RSUs and PSUs Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
RSUs
Number of Shares
Unvested, beginning balance (in shares)	500,006	0
Granted (in shares)	661,924	500,006
Vested (in shares)	(157,473)	0
Forfeited (in shares)	(74,048)	0
Unvested, ending balance (in shares)	930,409	500,006
Weighted Average Grant Date Fair Value
Unvested, weighted average grant date fair value, beginning balance (in dollars per share)	$ 22.00	$ 0
Granted, weighted average grand date fair value (in dollars per share)	23.17	22.00
Vested, weighted average grand date fair value (in dollars per share)	22.00	0
Forfeited, weighted average grand date fair value (in dollars per share)	27.51	0
Unvested, weighted average grant date fair value, ending balance (in dollars per share)	$ 22.39	$ 22.00
PSUs
Number of Shares
Unvested, beginning balance (in shares)	0
Granted (in shares)	177,472
Vested (in shares)	0
Forfeited (in shares)	(29,785)
Unvested, ending balance (in shares)	147,687	0
Weighted Average Grant Date Fair Value
Unvested, weighted average grant date fair value, beginning balance (in dollars per share)	$ 0
Granted, weighted average grand date fair value (in dollars per share)	28.25
Vested, weighted average grand date fair value (in dollars per share)	0
Forfeited, weighted average grand date fair value (in dollars per share)	30.74
Unvested, weighted average grant date fair value, ending balance (in dollars per share)	$ 27.75	$ 0

Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jan. 01, 2021
Lessee, Lease, Description [Line Items]
ROU Asset	$ 11,245
Total lease liabilities	$ 11,268	$ 13,500
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
ROU Asset		$ 13,200

Leases - Summary of balances as it relates to leases (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jan. 01, 2021
Leases [Abstract]
Operating lease, right-of-use asset, statement of financial position	Other assets
ROU Asset	$ 11,245
Operating lease, liability, current, statement of financial position	Other current liabilities	Other current liabilities
Lease liability, current portion	$ 5,909
Operating lease, liability, noncurrent, statement of financial position	Other long-term liabilities
Lease liability, long-term portion	$ 5,359
Total lease liabilities	$ 11,268	$ 13,500

Leases - Schedule of Components of Lease Expense (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Leases [Abstract]
Operating lease expense	$ 6,635
Variable lease expense	106
Short-term lease expense	0
Total lease expense	$ 6,741

Leases - Schedule of Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 4,213		$ 6,663
2023	1,782		6,073
2024	1,782		893
2025	1,027		791
2026	1,023		15
Thereafter	3,197		0
Total lease payments	13,024		$ 14,435
Less: Imputed lease interest	(1,756)
Total lease liabilities	$ 11,268	$ 13,500

Leases - Schedule of Future Minimum Lease Obligations Under Non-Cancelable Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2021	$ 4,213	$ 6,663
2022	1,782	6,073
2023	1,782	893
2024	1,027	791
2025	1,023	15
Thereafter	3,197	0
Total	$ 13,024	$ 14,435

Leases - Schedule of Weighted-Average Remaining Lease-Term and Discount Rate (Details)	Dec. 31, 2021
Leases [Abstract]
Weighted average remaining lease-term	3 years 9 months 18 days
Weighted average discount rate	5.00%

Leases - Supplemental Cash Flows (Details) $ in Thousands	12 Months Ended
Leases - Supplemental Cash Flows (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 6,644
Non cash investing activities:
Lease liabilities arising from obtaining right-of-use assets	$ 17,363

Related Party Transactions (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 14, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Related Party Transactions [Abstract]
Accounts payable - related party		$ 610	$ 2,232		$ 610	$ 610	$ 2,608
Related Party Transaction [Line Items]
Accounts payable - related party		610	2,232		$ 610	$ 610	$ 2,608
Special distribution	$ 589,000	$ 0	589,000	$ 0
Unit holder of Parent \| Consent Fees
Related Party Transaction [Line Items]
Consent fees incurred			$ 2,200

Geographic Information (Details)	12 Months Ended
Geographic Information (Details)	Dec. 31, 2021 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Geographic Information - Schedule of Revenue from External Customers by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 188,686	$ 196,516	$ 248,240	$ 444,756	$ 633,442	$ 853,318	$ 872,662	$ 647,899
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue						826,639	805,070	563,157
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue						5,509	45,216	51,531
Rest of the world
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue						$ 21,170	$ 22,376	$ 33,211

- Definition

+ References

+ Details

Restatement (Unaudited) - Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 367,670	$ 116,391	$ 17,682	$ 19,133	$ 108,441
Restricted cash		0
Accounts receivable, net	236,009	170,108	149,638	124,229	118,694
Inventories, net	205,653	173,126	137,666	124,705	118,459
Income tax receivables	9,052	7,482	7,922	4,155	17,158
Prepaid expenses and other	33,649	18,193	11,597	15,639	12,423
Total current assets	852,033	485,300	324,505	287,861	375,175
Property, plant and equipment, net	10,692	10,202	9,763	9,740	9,774
Goodwill	69,727	69,727	69,727	69,727	69,727
Other intangible assets, net	174,753	180,630	186,507	192,383	198,260
Other assets	26,429	24,405	26,109	25,873	3,088
Total assets	1,142,979	770,264	616,611	585,584	656,024
Current Liabilities
Accounts payable	91,392	84,703	81,377	71,823	82,755
Accounts payable - related party	610	610	610	2,608	2,232
Accrued expenses and other	38,494	31,256	19,129	34,551	29,164
Accrued warranty reserve	3,192	3,025	2,968	3,098	3,049
Income tax payable	60	629	0	10,881	8,814
Deferred revenue	99,575	81,347	51,458	89,880	149,821
Current portion of contingent consideration	1,773	2,168	1,908	9,567	8,955
Current portion of term loan	4,300	4,300	4,300	4,300	4,313
Other current liabilities	5,909	6,457	6,379	6,288	0
Total current liabilities	245,305	214,495	168,129	232,996	289,103
Long-term liabilities
Deferred tax liability	0	6,078	12,576	13,005	13,114
Contingent consideration, net of current portion	12,804	10,784	10,108	10,272	10,736
Other long-term liabilities	5,557	2,953	4,273	6,055	0
Long-term debt, net of current portion, debt discount and issuance costs	711,056	299,212	493,945	391,682	423,970
Total long-term liabilities	729,417	319,027	520,902	421,014	447,820
Total liabilities	974,722	533,522	689,031	654,010	736,923
Commitments and contingencies (Note 12)
Temporary equity, carrying amount, attributable to parent	237,462	235,278	0		0
Stockholders’ deficit
Preferred stock, value, issued	0	0	0	0	0
Common stock, value, issued	135	135	127	127	127
Additional paid-in capital	202,562	251,330	149,893	148,370	140,473
Accumulated deficit	(271,902)	(250,001)	(222,440)	(216,923)	(221,499)
Total stockholders’ deficit	(69,205)	1,464	(72,420)	(68,426)	(80,899)	$ 305,151
Total liabilities, redeemable perpetual preferred stock and stockholders’ (deficit)	$ 1,142,979	770,264	616,611	585,584	656,024
Previously Reported
Current assets
Cash and cash equivalents		116,391	17,682	19,133
Restricted cash		0
Accounts receivable, net		177,462	153,610	121,921
Inventories, net		173,126	137,666	124,705
Income tax receivables		6,453	9,657	4,155
Prepaid expenses and other		18,193	11,597	15,639
Total current assets		491,625	330,212	285,553
Property, plant and equipment, net		10,202	9,763	9,740
Goodwill		69,727	69,727	69,727
Other intangible assets, net		180,630	186,507	192,383
Other assets		24,405	26,109	25,873
Total assets		776,589	622,318	583,276
Current Liabilities
Accounts payable		84,703	81,377	71,823
Accounts payable - related party		610	610	2,608
Accrued expenses and other		31,256	19,129	34,551
Accrued warranty reserve		3,025	2,968	3,098
Income tax payable		629	0	10,224
Deferred revenue		81,347	51,458	89,880
Current portion of contingent consideration		2,168	1,908	9,567
Current portion of term loan		4,300	4,300	4,300
Other current liabilities		6,457	6,379	6,288
Total current liabilities		214,495	168,129	232,339
Long-term liabilities
Deferred tax liability		6,583	14,472	13,043
Contingent consideration, net of current portion		10,784	10,108	10,272
Other long-term liabilities		2,953	4,273	6,055
Long-term debt, net of current portion, debt discount and issuance costs		299,212	493,945	391,682
Total long-term liabilities		319,532	522,798	421,052
Total liabilities		534,027	690,927	653,391
Commitments and contingencies (Note 12)
Temporary equity, carrying amount, attributable to parent		235,278	0		0
Stockholders’ deficit
Preferred stock, value, issued		0	0	0
Common stock, value, issued		135	127	127
Additional paid-in capital		251,330	149,893	148,370
Accumulated deficit		(244,181)	(218,629)	(218,612)
Total stockholders’ deficit		7,284	(68,609)	(70,115)	$ (80,899)
Total liabilities, redeemable perpetual preferred stock and stockholders’ (deficit)		776,589	622,318	583,276
Revision of Prior Period, Error Correction, Adjustment
Current assets
Cash and cash equivalents
Restricted cash
Accounts receivable, net		(7,354)	(3,972)	2,308
Inventories, net
Income tax receivables		1,029	(1,735)
Prepaid expenses and other
Total current assets		(6,325)	(5,707)	2,308
Property, plant and equipment, net
Goodwill
Other intangible assets, net
Other assets
Total assets		(6,325)	(5,707)	2,308
Current Liabilities
Accounts payable
Accounts payable - related party
Accrued expenses and other
Accrued warranty reserve
Income tax payable				657
Deferred revenue
Current portion of contingent consideration
Current portion of term loan
Other current liabilities
Total current liabilities		0	0	657
Long-term liabilities
Deferred tax liability		(505)	(1,896)	(38)
Contingent consideration, net of current portion
Other long-term liabilities
Long-term debt, net of current portion, debt discount and issuance costs
Total long-term liabilities		(505)	(1,896)	(38)
Total liabilities		(505)	(1,896)	619
Commitments and contingencies (Note 12)
Temporary equity, carrying amount, attributable to parent
Stockholders’ deficit
Preferred stock, value, issued
Common stock, value, issued
Additional paid-in capital
Accumulated deficit		(5,820)	(3,811)	1,689
Total stockholders’ deficit		(5,820)	(3,811)	1,689
Total liabilities, redeemable perpetual preferred stock and stockholders’ (deficit)		$ (6,325)	$ (5,707)	$ 2,308

Restatement (Unaudited) - Condensed Balance Sheet (Parenthetical) (Details) - USD ($)	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Oct. 14, 2020
Accounting Changes and Error Corrections [Abstract]
Temporary equity, par value (in dollars per share)	$ 0.001	$ 0.001			$ 0.001
Authorized temporary equity stock (in shares)	500,000	500,000			500,000
Temporary equity, shares issued	350,000	350,000			0
Temporary equity, liquidation preference	$ 350,000,000	$ 352,800,000			$ 0
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Authorized preferred stock (in shares )	4,500,000	4,500,000	5,000,000	5,000,000	4,500,000	5,000,000
Preferred stock, shares issued	0	0	0	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Authorized capital stock (in shares)	1,000,000,000	1,000,000,000	1,000,000,000	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, shares issued	135,026,940	134,869,467	126,994,467	126,994,467	126,994,467

Restatement (Unaudited) - Consolidated Statements of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Oct. 14, 2020	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenue		$ 188,686	$ 196,516	$ 248,240	$ 444,756	$ 633,442	$ 853,318	$ 872,662	$ 647,899
Cost of revenue		182,789	176,009	202,074	378,083	560,872	770,459	669,861	497,138
Gross profit		5,897	20,507	46,166	66,673	72,570	82,859	202,801	150,761
Operating expenses
General and administrative		18,493	15,113	24,673	39,786	58,279	80,974	55,634	41,212
Contingent consideration		936	(13)	148	135	1,071	2,696	26,441	640
Depreciation and amortization		5,984	5,981	5,984	11,965	17,949	23,930	25,514	25,500
Total operating expenses		25,413	21,081	30,805	51,886	77,299	107,600	107,589	67,352
Income (loss) from operations		(19,516)	(574)	15,361	14,787	(4,729)	(24,741)	95,212	83,409
Other expense
Other expense, net		(297)	(122)	(78)	(200)	(497)	(905)	(2,305)	(33)
Interest expense		(13,109)	(6,651)	(9,009)	(15,660)	(28,769)	(35,475)	(15,129)	(18,797)
Total other expense		(13,406)	(6,773)	(9,087)	(15,860)	(29,266)	(36,380)	(17,434)	(18,830)
Income before income tax expense (benefit)		(32,922)	(7,347)	6,274	(1,073)	(33,995)	(61,121)	77,778	64,579
Total Income Tax Expense (Benefit)		(5,361)	(1,830)	1,698	(132)	(5,493)	(10,718)	18,705	24,834
Net income (loss)		(27,561)	$ (5,517)	$ 4,576	$ (941)	(28,502)	(50,403)	59,073	39,745
Preferred dividends and accretion		(5,479)				(5,479)	(15,715)	0	0
Net income (loss) to common shareholders		$ (33,040)				$ (33,981)	$ (66,118)	$ 59,073	$ 39,745
Earnings (loss) per share
Basic (in dollars per share)		$ (0.25)	$ (0.04)	$ 0.04	$ (0.01)	$ (0.26)	$ (0.51)	$ 0.49	$ 0.33
Diluted (in dollars per share)		$ (0.25)	$ (0.04)	$ 0.04	$ (0.01)	$ (0.26)	$ (0.51)	$ 0.49	$ 0.33
Weighted average number of shares
Basic (in shares)	119,994,467	130,955,000	126,994,000	126,994,000	126,994,000	128,315,000	129,984,000	121,467,000	119,994,000
Diluted (in shares)	119,994,467	130,955,000	126,994,000	127,298,000	127,203,000	128,315,000	129,984,000	121,514,000	119,994,000
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenue		$ 192,068	$ 202,796	$ 245,932	$ 448,728	$ 640,796
Cost of revenue		182,789	176,009	202,074	378,083	560,872
Gross profit		9,279	26,787	43,858	70,645	79,924
Operating expenses
General and administrative		18,493	15,113	24,673	39,786	58,279
Contingent consideration		936	(13)	148	135	1,071
Depreciation and amortization		5,984	5,981	5,984	11,965	17,949
Total operating expenses		25,413	21,081	30,805	51,886	77,299
Income (loss) from operations		(16,134)	5,706	13,053	18,759	2,625
Other expense
Other expense, net		(297)	(122)	(78)	(200)	(497)
Interest expense		(13,109)	(6,651)	(9,009)	(15,660)	(28,769)
Total other expense		(13,406)	(6,773)	(9,087)	(15,860)	(29,266)
Income before income tax expense (benefit)		(29,540)	(1,067)	3,966	2,899	(26,641)
Total Income Tax Expense (Benefit)		(3,988)	(1,050)	1,079	29	(3,959)
Net income (loss)		(25,552)	$ (17)	$ 2,887	$ 2,870	(22,682)
Preferred dividends and accretion		(5,479)				(5,479)
Net income (loss) to common shareholders		$ (31,031)				$ (28,161)
Earnings (loss) per share
Basic (in dollars per share)		$ (0.24)	$ 0	$ 0.02	$ 0.02	$ (0.22)
Diluted (in dollars per share)		$ (0.24)	$ 0	$ 0.02	$ 0.02	$ (0.22)
Weighted average number of shares
Basic (in shares)		130,955,000	126,994,000	126,994,000	126,994,000	128,315,000
Diluted (in shares)		130,955,000	126,994,000	127,298,000	127,203,000	128,315,000
Revision of Prior Period, Error Correction, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenue		$ (3,382)	$ (6,280)	$ 2,308	$ (3,972)	$ (7,354)
Cost of revenue
Gross profit		(3,382)	(6,280)	2,308	(3,972)	(7,354)
Operating expenses
General and administrative
Contingent consideration
Depreciation and amortization
Total operating expenses		0	0	0	0	0
Income (loss) from operations		(3,382)	(6,280)	2,308	(3,972)	(7,354)
Other expense
Other expense, net
Interest expense
Total other expense		0	0	0	0	0
Income before income tax expense (benefit)		(3,382)	(6,280)	2,308	(3,972)	(7,354)
Total Income Tax Expense (Benefit)		(1,373)	(780)	619	(161)	(1,534)
Net income (loss)		(2,009)	$ (5,500)	$ 1,689	$ (3,811)	(5,820)
Preferred dividends and accretion
Net income (loss) to common shareholders		$ (2,009)				$ (5,820)
Earnings (loss) per share
Basic (in dollars per share)		$ (0.02)	$ (0.04)	$ 0.01	$ (0.03)	$ (0.05)
Diluted (in dollars per share)		$ (0.02)	$ (0.04)	$ 0.01	$ (0.03)	$ (0.05)
Weighted average number of shares
Basic (in shares)		130,955,000	126,994,000	126,994,000	126,994,000	128,315,000
Diluted (in shares)		130,955,000	126,994,000	127,298,000	127,203,000	128,315,000

Restatement (Unaudited) - Statement of Changes in Shareholders' Deficit (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ (72,420)	$ (68,426)	$ (80,899)	$ (80,899)	$ (80,899)	$ (80,899)	$ 305,151
Equity-based compensation	2,160	1,523	7,897	9,420	11,580	13,562	4,809	$ 799
Net income (loss)	(27,561)	(5,517)	4,576	(941)	(28,502)	(50,403)	59,073	39,745
Ending balance	$ 1,464	$ (72,420)	$ (68,426)	$ (72,420)	$ 1,464	$ (69,205)	$ (80,899)	305,151
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning temporary equity shares balance (in shares)	0		0	0	0	0
Temporary equity, beginning balance	$ 0		$ 0	$ 0	$ 0	$ 0
Temporary equity issued (in shares)	350				350	350
Issuance of Series A Preferred, net of fees	$ 229,799				$ 229,799	$ 229,799
Preferred cumulative dividends plus accretion	$ 5,479				$ 5,479	$ 8,226
Ending temporary equity shares balance (in shares)	350	0		0	350	350	0
Temporary equity, ending balance	$ 235,278	$ 0		$ 0	$ 235,278	$ 237,462	$ 0
Increase (Decrease) in Permanent Equity [Abstract]
Beginning balance	(72,420)	(68,426)	(80,899)	(80,899)	(80,899)	(80,899)	305,151
Equity-based compensation	2,160	1,523	7,897	9,420	11,580	13,562	4,809	799
Issuance of common stock, net	104,764				104,764	104,764	145,532
Preferred Stock, Accretion	5,479				5,479	7,489
Net income (loss)	(27,561)	(5,517)	4,576	(941)	(28,502)	(50,403)	59,073	39,745
Ending balance	1,464	(72,420)	(68,426)	(72,420)	1,464	(69,205)	(80,899)	$ 305,151
Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(68,609)	(70,115)	(80,899)	(80,899)	(80,899)	$ (80,899)
Equity-based compensation	2,160	1,523	7,897	9,420	11,580
Net income (loss)	(25,552)	(17)	2,887	2,870	(22,682)
Ending balance	$ 7,284	$ (68,609)	$ (70,115)	$ (68,609)	$ 7,284		$ (80,899)
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning temporary equity shares balance (in shares)	0		0	0	0	0
Temporary equity, beginning balance	$ 0		$ 0	$ 0	$ 0	$ 0
Temporary equity issued (in shares)	350				350
Issuance of Series A Preferred, net of fees	$ 229,799				$ 229,799
Preferred cumulative dividends plus accretion	$ 5,479				$ 5,479
Ending temporary equity shares balance (in shares)	350	0		0	350		0
Temporary equity, ending balance	$ 235,278	$ 0		$ 0	$ 235,278		$ 0
Increase (Decrease) in Permanent Equity [Abstract]
Beginning balance	(68,609)	(70,115)	(80,899)	(80,899)	(80,899)	$ (80,899)
Equity-based compensation	2,160	1,523	7,897	9,420	11,580
Issuance of common stock, net	104,764				104,764
Preferred Stock, Accretion	5,479				5,479
Net income (loss)	(25,552)	(17)	2,887	2,870	(22,682)
Ending balance	7,284	(68,609)	(70,115)	(68,609)	7,284		$ (80,899)
Revision of Prior Period, Error Correction, Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(3,811)	1,689
Net income (loss)	(2,009)	(5,500)	1,689	(3,811)	(5,820)
Ending balance	(5,820)	(3,811)	1,689	(3,811)	(5,820)
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary equity, ending balance
Increase (Decrease) in Permanent Equity [Abstract]
Beginning balance	(3,811)	1,689
Net income (loss)	(2,009)	(5,500)	1,689	(3,811)	(5,820)
Ending balance	$ (5,820)	$ (3,811)	$ 1,689	$ (3,811)	$ (5,820)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	126,994	126,994	126,994	126,994	126,994	126,994	0
Beginning balance	$ 127	$ 127	$ 127	$ 127	$ 127	$ 127	$ 0
Ending balance (in shares)	134,869	126,994	126,994	126,994	134,869	135,026	126,994	0
Ending balance	$ 0	$ 127	$ 127	$ 127	$ 0	$ 135	$ 127	$ 0
Increase (Decrease) in Permanent Equity [Abstract]
Beginning balance (in shares)	126,994	126,994	126,994	126,994	126,994	126,994	0
Beginning balance	$ 127	$ 127	$ 127	$ 127	$ 127	$ 127	$ 0
Issuance of common stock, net (in shares)	7,875				7,875	7,875	7,000
Issuance of common stock, net	$ 8				$ 8	$ 8	$ 7
Ending balance (in shares)	134,869	126,994	126,994	126,994	134,869	135,026	126,994	0
Ending balance	$ 0	$ 127	$ 127	$ 127	$ 0	$ 135	$ 127	$ 0
Common Stock \| Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	126,994	126,994	126,994	126,994	126,994	126,994
Beginning balance	$ 127	$ 127	$ 127	$ 127	$ 127	$ 127
Ending balance (in shares)	134,869	126,994	126,994	126,994	134,869		126,994
Ending balance	$ 135	$ 127	$ 127	$ 127	$ 135		$ 127
Increase (Decrease) in Permanent Equity [Abstract]
Beginning balance (in shares)	126,994	126,994	126,994	126,994	126,994	126,994
Beginning balance	$ 127	$ 127	$ 127	$ 127	$ 127	$ 127
Issuance of common stock, net (in shares)	7,875				7,875
Issuance of common stock, net	$ 8				$ 8
Ending balance (in shares)	134,869	126,994	126,994	126,994	134,869		126,994
Ending balance	$ 135	$ 127	$ 127	$ 127	$ 135		$ 127
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	149,893	148,370	140,473	140,473	140,473	140,473	0
Equity-based compensation	2,160	1,523	7,897	9,420	11,580	13,562	1,412
Ending balance	251,330	149,893	148,370	149,893	251,330	202,562	140,473	0
Increase (Decrease) in Permanent Equity [Abstract]
Beginning balance	149,893	148,370	140,473	140,473	140,473	140,473	0
Equity-based compensation	2,160	1,523	7,897	9,420	11,580	13,562	1,412
Issuance of common stock, net	104,756				104,756	104,756	145,525
Preferred Stock, Accretion	5,479				5,479	7,489
Ending balance	251,330	149,893	148,370	149,893	251,330	202,562	140,473	0
Additional paid-in capital \| Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	149,893	148,370	140,473	140,473	140,473	140,473
Equity-based compensation	2,160	1,523	7,897	9,420	11,580
Ending balance	251,330	149,893	148,370	149,893	251,330		140,473
Increase (Decrease) in Permanent Equity [Abstract]
Beginning balance	149,893	148,370	140,473	140,473	140,473	140,473
Equity-based compensation	2,160	1,523	7,897	9,420	11,580
Issuance of common stock, net	104,756				104,756
Preferred Stock, Accretion	5,479				5,479
Ending balance	251,330	149,893	148,370	149,893	251,330		140,473
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(222,440)	(216,923)	(221,499)	(221,499)	(221,499)	(221,499)	0
Net income (loss)	(27,561)	(5,517)	4,576	(941)	(28,502)	(50,403)	(12,321)
Ending balance	(250,001)	(222,440)	(216,923)	(222,440)	(250,001)	(271,902)	(221,499)	0
Increase (Decrease) in Permanent Equity [Abstract]
Beginning balance	(222,440)	(216,923)	(221,499)	(221,499)	(221,499)	(221,499)	0
Net income (loss)	(27,561)	(5,517)	4,576	(941)	(28,502)	(50,403)	(12,321)
Ending balance	(250,001)	(222,440)	(216,923)	(222,440)	(250,001)	(271,902)	(221,499)	$ 0
Retained Earnings \| Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(218,629)	(218,612)	(221,499)	(221,499)	(221,499)	(221,499)
Net income (loss)	(25,552)	(17)	2,887	2,870	(22,682)
Ending balance	(244,181)	(218,629)	(218,612)	(218,629)	(244,181)		(221,499)
Increase (Decrease) in Permanent Equity [Abstract]
Beginning balance	(218,629)	(218,612)	(221,499)	(221,499)	(221,499)	$ (221,499)
Net income (loss)	(25,552)	(17)	2,887	2,870	(22,682)
Ending balance	(244,181)	(218,629)	(218,612)	(218,629)	(244,181)		$ (221,499)
Retained Earnings \| Revision of Prior Period, Error Correction, Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(3,811)	1,689
Net income (loss)	(2,009)	(5,500)	1,689	(3,811)	(5,820)
Ending balance	(5,820)	(3,811)	1,689	(3,811)	(5,820)
Increase (Decrease) in Permanent Equity [Abstract]
Beginning balance	(3,811)	1,689
Net income (loss)	(2,009)	(5,500)	1,689	(3,811)	(5,820)
Ending balance	$ (5,820)	$ (3,811)	$ 1,689	$ (3,811)	$ (5,820)

Restatement (Unaudited) - Condensed Cash Flow Statement (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	$ (27,561)	$ (5,517)	$ 4,576	$ (941)	$ (28,502)	$ (50,403)	$ 59,073	$ 39,745
Provision for (recovery of) bad debts			(535)	(551)	(574)	(467)	595	(3,986)
Deferred tax (benefit) expense			(109)	(538)	(7,036)	(10,102)	(2,739)	22,322
Depreciation and amortization			6,481	12,964	19,454	25,946	27,474	27,316
Amortization of debt discount and issuance costs			3,586	5,118	13,653	15,036	3,366	3,968
Interest paid-in-kind			0	0	0	0	3,421	2,832
Equity-based compensation			7,911	9,467	11,706	13,757	4,809	799
Contingent consideration	936	(13)	148	135	1,071	2,696	26,441	640
Warranty provision			302	425	305	516	953	1,387
Provision for inventory obsolescence				1,236	654	990	1,225	1,742
Accounts receivable			(5,000)	(30,393)	(50,840)	(116,848)	(23,038)	(40,708)
Inventories			(6,246)	(20,443)	(55,321)	(88,184)	28,340	(94,594)
Income tax receivables			13,003	9,236	9,676	8,106	(16,530)	9,941
Prepaid expenses and other			(3,216)	826	(5,770)	(21,226)	1,101	2,228
Accounts payable			(10,556)	(1,378)	1,948	8,637	(50,519)	105,481
Accounts payable - related party			0	(1,622)	(1,622)	(1,622)	0	0
Accrued expenses and other			5,134	(10,541)	1,683	9,133	10,913	(1,978)
Income tax payable			2,067	(8,814)	(8,185)	(8,754)	6,870	1,944
Lease liabilities			247	68	337	221	0	0
Deferred revenue			(59,941)	(98,363)	(68,474)	(50,619)	(178,960)	306,994
Net cash provided by (used in) operating activities			(42,148)	(134,109)	(165,837)	(263,187)	(122,205)	386,073
Purchase of property, plant and equipment			(570)	(1,200)	(2,252)	(3,357)	(1,338)	(1,697)
Investment in equity security			(10,000)	(11,975)	(11,975)	(11,975)	0	0
Net cash used in investing activities			(10,570)	(13,175)	(14,227)	(15,332)	(1,338)	(1,697)
Proceeds from revolving credit facility				102,000	102,000	126,033	0	0
Principal payments on term loan facility			(30,000)	(31,075)	(132,150)	(133,225)	(115,000)	0
Proceeds from Series A issuance					224,987	224,987	0	0
Proceeds from common stock issuance					120,645	120,645	0	0
Series A equity issuance costs					(7,195)	(7,195)	0	0
Common stock issuance costs					(3,873)	(3,873)	0	0
Payments on revolving credit facility					(102,000)	(126,033)	0	0
Payments on related party loans				0	0	0	(45,558)	0
Contingent consideration				(7,810)	(7,810)	(7,810)	0	0
Deferred offering costs					0	0	(6,464)	0
Debt issuance costs			(6,590)	(6,590)	(6,590)	(6,590)	(36,011)	0
Net cash provided by (used in) financing activities			(36,590)	56,525	188,014	537,748	(129,273)	(63,945)
Net change in cash and cash equivalents			(89,308)	(90,759)	7,950	259,229	(252,816)	320,431
Cash and cash equivalents, beginning of period	17,682	19,133	108,441	108,441	108,441	108,441	361,257	40,826
Cash and cash equivalents, end of period	116,391	17,682	19,133	17,682	116,391	367,670	108,441	$ 361,257
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	(25,552)	(17)	2,887	2,870	(22,682)
Provision for (recovery of) bad debts			(535)	(551)	(574)
Deferred tax (benefit) expense			(71)	1,358	(6,531)
Depreciation and amortization			6,481	12,964	19,454
Amortization of debt discount and issuance costs			3,586	5,118	13,653
Interest paid-in-kind			0	0	0
Equity-based compensation			7,911	9,467	11,706
Contingent consideration	936	(13)	148	135	1,071
Warranty provision			302	425	305
Provision for inventory obsolescence				1,236	654
Accounts receivable			(2,692)	(34,365)	(58,194)
Inventories			(6,246)	(20,443)	(55,321)
Income tax receivables			13,003	7,501	10,705
Prepaid expenses and other			(3,216)	826	(5,770)
Accounts payable			(10,556)	(1,378)	1,948
Accounts payable - related party			0	(1,622)	(1,622)
Accrued expenses and other			5,134	(10,541)	1,683
Income tax payable			1,410	(8,814)	(8,185)
Lease liabilities			247	68	337
Deferred revenue			(59,941)	(98,363)	(68,474)
Net cash provided by (used in) operating activities			(42,148)	(134,109)	(165,837)
Purchase of property, plant and equipment			(570)	(1,200)	(2,252)
Investment in equity security			(10,000)	(11,975)	(11,975)
Net cash used in investing activities			(10,570)	(13,175)	(14,227)
Proceeds from revolving credit facility			0	102,000	102,000
Principal payments on term loan facility			(30,000)	(31,075)	(132,150)
Proceeds from Series A issuance					224,987
Proceeds from common stock issuance					120,645
Series A equity issuance costs					(7,195)
Common stock issuance costs					(3,873)
Payments on revolving credit facility					(102,000)
Payments on related party loans				0	0
Contingent consideration				(7,810)	(7,810)
Deferred offering costs					0
Debt issuance costs			(6,590)	(6,590)	(6,590)
Net cash provided by (used in) financing activities			(36,590)	56,525	188,014
Net change in cash and cash equivalents			(89,308)	(90,759)	7,950
Cash and cash equivalents, beginning of period	17,682	19,133	108,441	108,441	108,441	108,441
Cash and cash equivalents, end of period	116,391	17,682	19,133	17,682	116,391		108,441
Revision of Prior Period, Error Correction, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	(2,009)	(5,500)	1,689	(3,811)	(5,820)
Provision for (recovery of) bad debts
Deferred tax (benefit) expense			(38)	(1,896)	(505)
Depreciation and amortization
Amortization of debt discount and issuance costs
Interest paid-in-kind
Equity-based compensation
Contingent consideration
Warranty provision
Provision for inventory obsolescence
Accounts receivable			(2,308)	3,972	7,354
Inventories
Income tax receivables				1,735	(1,029)
Prepaid expenses and other
Accounts payable
Accounts payable - related party
Accrued expenses and other
Income tax payable			657
Lease liabilities
Deferred revenue			0	0	0
Net cash provided by (used in) operating activities			0	0	0
Purchase of property, plant and equipment
Investment in equity security				0
Net cash used in investing activities			0	0	0
Proceeds from revolving credit facility
Principal payments on term loan facility
Proceeds from Series A issuance
Proceeds from common stock issuance
Series A equity issuance costs
Common stock issuance costs
Payments on revolving credit facility
Payments on related party loans
Contingent consideration				0
Deferred offering costs
Debt issuance costs				0	0
Net cash provided by (used in) financing activities			0	0	0
Net change in cash and cash equivalents			0	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	$ 0	$ 0	$ 0	$ 0	$ 0

Subsequent Events (Details) € in Millions				3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
Subsequent Events (Details) € in Millions	Jan. 11, 2022 USD ($) shares	Jan. 11, 2022 EUR (€) shares	Jan. 07, 2022 USD ($) shares	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2022	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jan. 11, 2022 EUR (€)	Dec. 31, 2018 USD ($)
Subsequent Event [Line Items]
Contingent consideration				$ 936,000	$ (13,000)	$ 148,000	$ 135,000	$ 1,071,000		$ 2,696,000	$ 26,441,000	$ 640,000
Business combination, contingent consideration, liability										$ 14,577,000	$ 19,691,000	$ 18,250,000		$ 17,610,000
Subsequent event
Subsequent Event [Line Items]
Business combination, consideration transferred	$ 610,700,000
Issuance of common stock, net (in shares) \| shares			50,000
Stock issued (in shares) \| shares			1,125,000
Net proceeds from sale of series A perpetual preferred stock			$ 49,376,125
Employee stock purchase plan, discount rate									15.00%
Window period for employee stock purchase plan discount									6 months
Subsequent event \| STI
Subsequent Event [Line Items]
Payments to acquire businesses, gross	$ 410,500,000
Business acquisition, equity interest issued or issuable, number of shares (in shares) \| shares	13,894,800	13,894,800
Business acquisition, percentage of voting interests acquired	100.00%												100.00%
Number of multiples of EBITDA	4												4
Contingent consideration	$ 53,500,000	€ 47.0
Business combination, contingent consideration, liability	52,000,000												€ 45.0
Business acquisition, transaction costs	$ 5,300,000